The En-bloc Sale allows owners of properties in Singapore to sell their properties for a much higher price than they would gain by selling in the regular market. An En-bloc sale means that owners of separate units of an apartment, office or condominium get together and the sell the property as a whole to a developer for a good price. Unused land can be redeveloped to bring in cash. The owners have the opportunity of cashing out their properties an investing in other properties or using other forms of investments.
It is best to go for an En-bloc sale when one or more of these things are evident. If there is an increase in the plot ratio of the land, if there is a re-zoning of the land to a higher use and if the land is not fully built-up or is not used to its full developmental potential. The En-bloc sale occurs in seven stages which involve the checking of land value, checking the owner’s interest, sale preparation, marking of land sale, private treaty or public tender and evaluation, legal completion of En-bloc sale and delivery of vacant possession.
If you are looking to buy property instead of selling it, buying properties off the En-bloc sale could be much cheaper because property collectively reduces in price. You can contact the En-bloc Elite pages to view different properties and compare the different projects online. You can call the company, drop an email or get an appointment. Next you must register your interest after having decided the land you want to purchase. You must fill up a registration form and inform the company of your choice. The best part is that there is no obligation or commitment of purchase at this point whatsoever! Within this time, you must also work out a sustainable budget and a financial plan with a banker and you can definitely contact the company if you need any form of assistance.
The company requires at 5 to 10 interested buyers before they start to negotiate with the developers on the discount. So you might have to wait a while. The size of the group also depends upon the project that you have selected. The discount is also quite dependant on how many people are in the group. Once the project has been finalized, a booking fee needs to be paid. It is usually 5-10% of the purchase price or an amount indicated by the developer. After this you are submitted an Option to Purchase. You lawyer can now handle the transactions from this point onwards. You can also contact the company if you need assistance with a lawyer.
At the En-bloc Elite Pages, we make sure you get the best deals whether you are buying or selling your properties. We buy property at a much higher price than what you have sold it in the market for and we sell property at a reasonable and affordable price so that most people can make use of the exclusive services we offer.