Like I said before, some people contributed some useful news but when I refused to put them on my blog, they want to know why.
Then later, I thought it harmless to put them up bit by bit.
Yes. It is true some minority residents got more than those who signed.
The majority who signed thought they were doing a good deed to the entire estate to expediate the collective sale. In actual fact, they fell as easy prey to the Sale Committee.
6 comments:
If it is true that the minority who did not sign got more than the majority, then they should be laughing.
I would expect to get a few bucks more as they did not get involved in the legal fracas and did not have to pay the lawyers' fees.
Good luck to them. May they buy their future houses with the same fortune.
I would not begrudge residents who get more payout unless there is some underhand dealings. As I read up more, I found that there are three possible scenarios where residents can get more payouts;
1) Those who bought their flats at prices higher than the payout price. STB's guidelines protect residents who suffer financial loss. This applies to residents whether they are minority or majority. For this group, they will get more than the payout given to other residents. I know two neighbours who got above 660K payout because they bought their units at higher prices. Financial loss include stamp duties, agent fees, etc..
2) For residents who suffer financial loss and who are in the minority, they get to claim a further 20K from the privatisation of the estate.
3) There is rumoured to be a third group who objected and later settled for additional payout from the developer. There is no verification of how much the residents got from the developer. They could be residents which did not suffer any financial loss. In which case they would stand to gain the most.
In any event, we should not feel jealous of them because we do not know the circumstances they go through or face. Instead, look at what you gain. You will feel better.
Knock KnocK! The 3rd group you are referring to got their extras from everyone issued by the sale committee.... 2% set aside stated in the contract. Go ask around somemore and you will know how much they got.
If what you pointed about the 3rd group getting the extra payout from the central pool (from the 2% contributed by every resident) is true, then we should protest. This is because no EOGM was conducted to get approval from the residents for this provision.
What I understood was that the extra payout comes from the developer and not from the central pool.
Anyone can verify?
Read your contract you blockhead!
When someone was trying so hard to have an egm, they too were trying hard to block it. 2% is dispensible by the sale committee. 1/4 mil extra on top collective price is .......thank you to you!
urgent! important! act!
A new problem has cropped up. The present management committee is suing a few guys for $100k for owed management and other fees.
That would mean a delay in the completion date. For each day delayed, the buyer wants each household to us $160+.
We must impress upon Mr Ken Pereira, Mr Bernard Tee and other members to the minton rise mc that they would be causing us unnecessary delays and money.
Just imagine. $163 a day. $1,630 for 10 days and $163,000 for 100 days.
So whether you are pro and against the en bloc, if you dont want to lose your trouers/pants, go knock on the doors of the mc members and tell them to wake up and stop the case.
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