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Thread: Er, what is a caveat?

  1. #1
    mr funny is offline Any complaints please PM me
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    Default Er, what is a caveat?

    http://www.straitstimes.com/Invest/S...ry_426024.html

    Sep 6, 2009

    FINANCIAL QUOTIENT

    Er, what is a caveat?


    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.

    Lodging of caveats is voluntary and there can be a time lag between the purchase date and the lodgement of the caveat.

    Why is it important?

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

    The Urban Redevelopment Authority uses caveats to compute its property price indices. Its website has information on private home deals transacted with caveats lodged. Buyers can check the caveats to get an idea of where prices are headed or the latest prices at a development.

    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

  2. #2
    Join Date
    Feb 2009
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    5,837

    Default

    Quote Originally Posted by mr funny
    http://www.straitstimes.com/Invest/S...ry_426024.html

    Sep 6, 2009

    FINANCIAL QUOTIENT

    Er, what is a caveat?


    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.

    Lodging of caveats is voluntary and there can be a time lag between the purchase date and the lodgement of the caveat.

    Why is it important?

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

    The Urban Redevelopment Authority uses caveats to compute its property price indices. Its website has information on private home deals transacted with caveats lodged. Buyers can check the caveats to get an idea of where prices are headed or the latest prices at a development.

    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

    using the caveat to judge prevailing market price is not a good gauge

    i sold my property i June and the buyer did not lodge the caveat ..

    so only himself. myself and god know how much it was transacted ..

  3. #3
    Join Date
    Apr 2009
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    923

    Default

    yes.. caveats can also be withdrawn...

    It is a guide.

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