What is contracted date?

[rattydrama]

Can you help? I read from streetsine that states contracted date: 25 Sept 2010.

I think someone did ask before in one of the threads but I could not remember which one. So I ask again.

This contracted date is the date the owner and buyer sign on the OTP or the date the URA clerk update in their system for us to view?

I was also told it is 3 months late meaning the transaction was carried out, in this instance, 25 June 2010. Is that true?

[hans]

Can you help? I read from streetsine that states contracted date: 25 Sept 2010.

I think someone did ask before in one of the threads but I could not remember which one. So I ask again.

This contracted date is the date the owner and buyer sign on the OTP or the date the URA clerk update in their system for us to view?

I was also told it is 3 months late meaning the transaction was carried out, in this instance, 25 June 2010. Is that true?

It is the day the OTP was exercise, it will only reflect in the URA website if a caveat was lodged (depending when it was lodged). URA update their website every tuesday and friday

[rattydrama]

Thanks, can I sign OTP in June and caveat in Sept? So the date appear on URA website is still in June? Am I right?

It is the day the OTP was exercise, it will only reflect in the URA website if a caveat was lodged (depending when it was lodged). URA update their website every tuesday and friday

[hans]

correct, you can ask the lawyer to lodge later, but if u take a bank loan, the bank will definiately lodge a caveat to protect their interest.

Thanks, can I sign OTP in June and caveat in Sept? So the date appear on URA website is still in June? Am I right?

[Geylang OKT]

Thanks, can I sign OTP in June and caveat in Sept? So the date appear on URA website is still in June? Am I right?

You sign the OTP. Caveat is lodged by the bank and buyer(s) lawyers. They can lodge anytime (even in Sep) but the date will still be the date of option exercised by you

[devilplate]

You sign the OTP. Caveat is lodged by the bank and buyer(s) lawyers. They can lodge anytime (even in Sep) but the date will still be the date of option exercised by you

either date of OTP or exercised date

[Geylang OKT]

either date of OTP or exercised date

Should be the OTP exercise date, as only acceptance by the Purchaser(s) (by signing and payment of the 4%) constitutes a binding contract

The earlier 1% consideration (or option money) is for the Vendor to grant the option only. The Purchaser can choose not to exercise the option.

But what do I know, I am just a geylang OKT

[rattydrama]

Should be the OTP exercise date, as only acceptance by the Purchaser(s) (by signing and payment of the 4%) constitutes a binding contract

The earlier 1% consideration (or option money) is for the Vendor to grant the option only. The Purchaser can choose not to exercise the option.

But what do I know, I am just a geylang OKT

Thanks for the input but don’t be so confusing leh, want to say and don’t want to say… more like geylang part time chiaobu…

Back to your post. Based on what you said, so the URA caveat date (contracted date) is generally the OTP exercised date which all 5% paid?

1% paid date on OTP is not ready to register with URA caveat?

[richwang]

I've checked the URA site again, it says "Date of Option Exercised /Sales Agreement Signed" So the earliest date is the 5% paid date. In my case, it wasn't reflected on the URA site for at least two months. I didn't arrange the loan initially. (A mistake, it costed me a lot for by having my lawyer and the bank's lawyer seperately). When it is reflected, it is the Option Exercise Date.

Thanks,
Richard

[rattydrama]

Thanks everyone for the input! I enjoy reading some of the articles, why are you guys so quiet now???

[Geylang OKT]

Thanks for the input but don’t be so confusing leh, want to say and don’t want to say… more like geylang part time chiaobu…

Back to your post. Based on what you said, so the URA caveat date (contracted date) is generally the OTP exercised date which all 5% paid?

1% paid date on OTP is not ready to register with URA caveat?

My engrish not so vely goot. Next time I just say based on OTP exercise date can oredi... instead of elaborating

[Geylang OKT]

I've checked the URA site again, it says "Date of Option Exercised /Sales Agreement Signed" So the earliest date is the 5% paid date. In my case, it wasn't reflected on the URA site for at least two months. I didn't arrange the loan initially. (A mistake, it costed me a lot for by having my lawyer and the bank's lawyer seperately). When it is reflected, it is the Option Exercise Date.

Thanks,
Richard

Correct!

[rattydrama]

My engrish not so vely goot. Next time I just say based on OTP exercise date can oredi... instead of elaborating

You explaination very clear, dont be so humble leh.

If you dont explain, some one like me will not know the difference between 4% & 1%, the timing and the meaning of exercise date.