Emily Tan, a property agent at Dr.am Homes Realty, is assisting Sophia Lim, a single professional, in purchasing her first property in Singapore.
Sophia is interested in a condominium unit that is part of an en-bloc sale.
The condominium is 20 years old, and the en-bloc process has just been initiated by the collective sale committee.
Sophia is keen to understand the en-bloc process, the financial implications, and her rights as a potential buyer.
Emily explains the importance of the collective sale agreement, the voting requirements, and the distribution of sales proceeds.
She also discusses the option to purchase (OTP) and the necessary steps Sophia needs to take to secure the property.
As they navigate the complexities of the en-bloc sale, Emily ensures that Sophia is well-informed about the legal and financial aspects involved.