En Bloc

The Other Owners Agreed To An En-bloc Right After I Moved In: Now What?

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Ryan J

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan’s expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938’s Open House programme underscores his commitment to providing valuable insights into the property market.

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Chris
Chris
3 years ago

Hi Ryan,

If today I buy a condo apartment for $1200psf and 2yrs later it get en-bloc. Is it possible that I might get back less than I pay for the apartment (excluding the renovation cost)?

Aizen
Aizen
3 years ago

Hi Ryan, Is SSD of 3 years counts when we exercise or after completion of purchase?

Stacked Homes
Admin
3 years ago
Reply to  Aizen

Hi Aizen! SSD is counted from the purchase date. According to IRAS website:
In most instances, the date of purchase/ acquisition of a property refers to:
Date of Acceptance of the Option to Purchase* or
Date of Sale and Purchase Agreement or
Date of Agreement for Lease (for new HDB flat) or
Date of Transfer where the above (a), (b) and (c) are not applicable
*Excludes an option to Purchase that is subject to the execution/ signing of the Sale and Purchase Agreement

Jimmy
Jimmy
3 years ago

What is the SSD calculate end time? From the date that approvals have been received from the Strata Title Board or the completion of the collective sales?

Stacked Homes
Admin
3 years ago
Reply to  Jimmy

Hey Jimmy! SSD is calculated just like any other sales, when the S&P is signed

David
David
3 years ago

Hi Ryan,

I am planning to buy a 2nd hand condo. I am afraid that it is under En Bloc process. Does that condo’s unit seller or that sell’s property agent have the responsibility to inform me that his unit is under En Bloc?

I am afraid to be forced to pay the huge SSD, and waste the big renovation cost.

Thank you.

Stacked Homes
Admin
3 years ago
Reply to  David

Hi David, from what we know, the seller is under no obligation to discuss this. It’s one of those things that an experienced buyer agent would check for older condos. Even sellers may not be aware if an en bloc was on the table if they don’t open their letters or aren’t involved with the condo AGM/EGMs. It’s also hard to prove that the seller/agent knew there was an en bloc underway. Moreover, en bloc is also not guaranteed to go through.

David
David
3 years ago
Reply to  Stacked Homes

Many thanks, for the answer. It makes sense.

Tan
Tan
1 year ago

Hi does the buyer have to pay for SSD as well?

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