After going through two en bloc sales within the last three years, I feel I can make some observations of the games people play in this business of buying and selling property because of an en bloc sale.
We all know that there’ll be three parties in any en bloc sale – those who want to sell, those who don’t want to sell and those who think the potential value of the property is much higher – which is probably true, since developers are able to make a profit from redeveloping the land.
We all know that as a result squabbles, counseling, mediation and even a visit to the court to fatten the wallets of lawyers, sometimes follows.
What is not usually discussed is the level of secrecy and distrust that continues amongst members of the community from the time the en bloc sales committee gets the 80% vote to go ahead till when the last of us leaves the current property.