Are you an Enblocs dealer? Do you want to generate millions from these deals? Then making the correct decisions is the best choice to go for. But how do you make these decisions? Worry no more! The collective sale guide provides the best solution for this. All your daily en bloc questions are answered in this guide through which you can make winning property decisions. These are discussed as follows:
Process for Enbloc Dealers in Singapore
1. Checking for the En Bloc Potentiality of your Condo
Use the en bloc calculator to check the age of the property, the units’ number and enhancement for the plot value.
2. Starting En Bloc Attempt
This is made successful by the election of the Collective Sale Committee at the General Meeting.
3. Failure to Get the Required Consenting Owners for going En Bloc
Automatic dissolution of the CSC will take place if the committee fails to get the required consenting owners.
4. Not Willing to go En Bloc
Time Limited for Enbloc Process in Singapore
Raising of a valid objection is the best alternative if you doubt the manner in which the process of collective sale was conducted.
5. The Time Limit of the En Bloc Process
The en bloc process usually goes up to two years. However, the situation of demand and supply changes within this period.
6. The Period of Getting Money for a Successful Collective Sale
The collective sale proceeds are normally received within 3 to 6 months. However, they are likely to take a long time in case of the court’s or Strat Titles Board’s approval requirement.
7. Collective Sales’ Impact on the Property Prices
In a number of cases, the exercises for en bloc records uplifting impact on the property prices.
8. The absence of Bids for an En Bloc Property
This requires the involved site to enter into the private treaty discussion with the interested parties.
9. The Lifespan of the En Bloc Cycle
As per the industry experts, the current en bloc momentum is expected to last between 2018 and 2019.
10. Chances of Purchasing New HDB or an EC after Successful Property Selling in an En Bloc
There are no chances of purchasing a new EC or HDB until after 30 days from the time of selling the en bloc property. However, you have the freedom of buying resale EC or reselling the HDB flats.
11. Can you Suffer the 7% ABSD after a Successful Sale of En Bloc property in Singapore?
No. This is because the property turns to negative one after a first collective property sale.
12. Importance of Bridging Loan to the En Bloc Owners
Used for covering the costs for the purchase of a new property, until you get proceeds for the property you sold.