Everyone knows by now the final outcome of my en bloc sale. Yes, Capitaland in association with Morganite Pte., Ltd., HP and several other heavy weights have clinched the tender with a bid of S$1,338,800. 00. They were the highest bidder.
Short of our asking price of S$1.5b, nevertheless, the owners will be receiving S$2.2m and S$2.1m respectively depending on floor area. It would be impossible to sell individually for this price. Unfortunately that prices of properties have since shot up by 7.9%, as reported in the newspapers, finding replacement property will be challenging.
With all the publicity, the market here is buzzing with astonishment. When I walk through the market place, everyone is talking about it and I get a lot of ribbing out of it. Every taxi driver talks about it and when I went to see my GP, he asked me about it before attending to my medical condition. One idiot in church went on and on about it and I had to turn around and walked away. Some people have his mouth bigger than his backside! Wonder why he ever comes to church at all.
According to the terms of the tender, it would appear that we will only get our money by February/ March next year, unless something should happen to shorten the legal procedures. It would be nice also if everyone now sign up making it 100%, so we need not go through the Strata Title Board, shortening the process and saving the extra cost.
But there are still pockets of owners who are still against the sale. We probably will have our EGM next month. The atmosphere around the neighbourhood is still cagey, with all those who have signed up talking excitedly in groups. I remember walking through the market last Thursday morning, and being greeted by a group of friends gesticulating with their fingers showing a two and a one! They were jubilent and offered to buy coffee all round.
The en bloc sale has been buzzing in my head everyday. Took time out today for my fast walking exercise and some relaxation. I weighed in at 64.5 kg, a drop from 64.8 kg last week. How low can you go!
Till then....
2 comments:
For 30 over years you are living on a plot of gold! Everyone thought it is not wise to buy an old flat; problems with getting financing, maintenance and shorter leasehold. Who would know there is such a thing called en-bloc sale! You are one of the lucky ones. Lily
I had no money to buy a new place. So I stayed put. Strange how things have turned up.
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