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I have recently bought a condo unit and in the light of many en-bloc sales, how will I be affected in terms of compensation for losses(if any) and for sellers stamp duty should an en-bloc sale take place in my project within 4 years of my purchase?
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1 Answer

Robbie Chen Chee Howe
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Hi,

Should your recently bought condo goes enbloc within your SSD period, you will be liable to pay for the SSD in accordance to the date of your purchase and the official date of the enbloc deal.

There will be no form of compensation from IRAS. Any form of compensation, you may need to seek it from the Developer who enbloc your estate. However, do take note that they are not obliged to pay you a single cent, and if you're lucky, whatever they pay you will be out of goodwill.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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  • SC
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    Thanks for your straightforward answer. So this means that recent buyers of a project with en-bloc potential may actually lose out without compensation since only 80% approval by the project's owners is all that is needed to close the deal. It is strange that there is no redress to this as a homemaker buyer looking for a cheaper home as a place to stay in their old age is sucker-punched into submission.

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