‘Phantom’ Buyer Ploy To Get Apartment Owner To Support En-Bloc Sale

Source : The Straits Times, 20 Aug 2007

I COMPLETELY agree with Ms Alison Taylor, ‘Love your home? Beware the condo raiders’ (ST, Aug 16).

My friend who lives in a condo in Bedok has a similar experience.

He was approached to vote for an en-bloc sale at his condo with an offer of a fantastic sale price in order to achieve the 80 per cent target.

They even told him that there is a ready buyer. But when he asked who the prospective buyer was, there was no answer. This is clearly a ploy to make gullible owners to sign up.

I would like to suggest that the percentage be raised to 90 per cent approval by subsidiary proprietors before an en-bloc sale can be launched to protect the interest of minority owners.

William Tay Kay Chiak