Question on URA caveats..

[radha08]

Is it true if buyer pay cash it will NOT be reflected in the ura caveats...cos i nooticed some new devts even 100% sold there is no record of certain units...

[buttercarp]

Is it true if buyer pay cash it will NOT be reflected in the ura caveats...cos i nooticed some new devts even 100% sold there is no record of certain units...

http://www.ura.gov.sg/lad/pmifaq/pmifaq.html

" ......it is not compulsory to lodge a caveat for all property purchases. Lodging of caveats is usually done voluntarily by purchasers through their lawyers to protect their interest in the property........."

[radha08]

http://www.ura.gov.sg/lad/pmifaq/pmifaq.html

" ......it is not compulsory to lodge a caveat for all property purchases. Lodging of caveats is usually done voluntarily by purchasers through their lawyers to protect their interest in the property.........

Why are there no unit numbers displayed for the caveats listed?
This service is meant to provide basic and general information on the property market rather than detailed information. URA provides a subscription based service for users who need more detailed information. The service is called the Real Estate Information System or REALIS. You can subscribe to REALIS for unlimited access throughout a year or on a daily basis. Find out more at this url: http://spring.ura.gov.sg/lad/ore/login/index.cfm.
Alternatively, if you require transaction data only, you may want to use the INLIS website run by the Singapore Land Authority at : www.inlis.gov.sg."

tks sis i never knew that....

so you can request your lawyer not to reveal ur purchase if you wish

[carbuncle]

INLIS also need to pay right...

[radha08]

INLIS also need to pay right...

yup seems like it...

[auroraborealis]

Usu flippers don't lodge caveats one, they dun wan to let buyers know their cost n profit. Ever bot 1 thru sub-sale that agent claimed 2 owner but we only found 1 caveat from 1st owner... Lawyer did due diligence for us n confirmed that seller was 2nd owner

tks sis i never knew that....

so you can request your lawyer not to reveal ur purchase if you wish

[blackapple]

Is there property tax difference between a 99 leasehold condo and a 999 condo ?

[Laguna]

once u have a loan, it will be lodged.

[radha08]

once u have a loan, it will be lodged.

yup thats what i thought so those who buy cash wont be reflected...hmm...wonder why

[carbuncle]

once u have a loan, it will be lodged.

No wonder mine not lodged yet after so long... Loan not kicked in.

[Laguna]

No wonder mine not lodged yet after so long... Loan not kicked in.

once the Lettter of Offer is signed, the bank will lodge, the bank will not wait till drawn down

[carbuncle]

once the Lettter of Offer is signed, the bank will lodge, the bank will not wait till drawn down

Now this is strange. However, i remember asking the conveyancing secretary, she said sometimes the buyer side may not lodge.

[radha08]

once the Lettter of Offer is signed, the bank will lodge, the bank will not wait till drawn down

yup no wonder all the new launches there is a record of sale price...even though got mAny years to top...

[Heng]

Now this is strange. However, i remember asking the conveyancing secretary, she said sometimes the buyer side may not lodge.

Lawyers will lodge caveat unless client request ...to avoid negligence claim ?

see article that appeared in straits times..



Joyce Teo explains what is a caveat and what it means to your property investments. -ST

Tue, Sep 08, 2009
The Straits Times

Where do you see this?
In articles, research reports, property websites and legal documents related to property.
What does this mean?

A caveat is a legal document lodged by a person who claims an interest in a property.

For instance, an intending purchaser who has paid a certain percentage of the purchase price to a property owner can lodge a caveat to indicate that he has an interest in the property.

Why is it important?

It prevents another person from staking a claim on the same property.

So you want to use the term. Just say...

'I just saw a caveat lodged for a unit at my condo. It's 20 per cent higher than what I paid last year. I will wait for the market to rise further before I cash out of this investment property.'
Joyce Teo