URA Property Transactions Caveats Lodged

[HCL]

Does anyone know what some units transactions are not reflected in URA Property Transactions caveats lodged?

[buttercarp]

Maybe because the caveat was not lodged.

[Cyberknight]

Fully paid by cash ppty

[bakasa2002]

caveat price normally is before discount, furniture voucher, etc, right?

[zeamybro]

caveat price normally is before discount, furniture voucher, etc, right?

I think diff developers have diff practices. Usually the caveat price is after the discounts, but not inclusive of the cash rebates and vouchers

[bakasa2002]

I think diff developers have diff practices. Usually the caveat price is after the discounts, but not inclusive of the cash rebates and vouchers

Thank you Zeamybro! Happy New Year to you. :)

[HCL]

Fully paid by cash ppty

My friend brought a property more than a year ago with bank loan, he told me he did not see his transaction in URA website. I also notice that some fully sold property site the URA transaction records are less than number of units sold.

Are those transactions not in URA record mean without "caveats lodged" and what is the legal implication of this?

[zeamybro]

Thank you Zeamybro! Happy New Year to you. :)

Hey bakasa, happy new year to you too!

You may wish to note that the amt of bank loan the buyer can take is based on the nett purchase price ie. after minus all discounts and rebates. But stamp duty and first 20% payable is based on the caveat price (after which developer will then pay you back the cash rebates some 8wks later).

Some buyers were caught by surprise when they realized they need to fork out more cash upfront than what they have initially thought so.

Bro/sis pls correct me if what I hv explained above is incorrect.

[earthling]

My friend brought a property more than a year ago with bank loan, he told me he did not see his transaction in URA website. I also notice that some fully sold property site the URA transaction records are less than number of units sold.

Are those transactions not in URA record mean without "caveats lodged" and what is the legal implication of this?


To begin with, it is not compulsory to lodge a caveat.
However, usually the bank offering the loan will lodge a caveat to express its interest in the mortgaged property.
The danger of not lodging a caveat (e.g. If you buy a resale unit) is that the seller might sell to different buyers and disputes will arise if more than 1 party claim interest on the same property.
Any good lawyer should have helped the buyer to lodge a caveat on the resale property purchased.

[proud owner]

To begin with, it is not compulsory to lodge a caveat.
However, usually the bank offering the loan will lodge a caveat to express its interest in the mortgaged property.
The danger of not lodging a caveat (e.g. If you buy a resale unit) is that the seller might sell to different buyers and disputes will arise if more than 1 party claim interest on the same property.
Any good lawyer should have helped the buyer to lodge a caveat on the resale property purchased.


bingo


you got the correct answer ....

[proud owner]

if singapore is a country full of honest people

there is really no need to lodge caveat ...

instead of catching dishonest people ... caveat was implemented ...

sigh

again another money making tool ...

so is Stamp duty

[NorthernStar]

I got my loan from a local bank 2 years ago.. the caveat only lodged recently but strangely under my name...

[mcmlxxvi]

I got my loan from a local bank 2 years ago.. the caveat only lodged recently but strangely under my name...

Congrats! You now have first charge to your mortgaged property.