Bishops Avenue - All you need to know - Flipbook - Page 14
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Administration Fee
£550 plus VAT. Riverstone will not charge the Administration Fee
if you appoint us as sales agent when you sell your apartment
Riverstone’s Sales
Agency Fee
1.25% of sale price plus VAT, whether you instruct us as sales
agent alone or alongside your own choice of sales agent
You can appoint up to two sales agents on the sale of your
property. We do not allow more than one external agent to
operate alongside Riverstone
You do not have to use Riverstone as a sales agent. If you don’t,
you need to pay the Administration Fee of £550 plus VAT
Ongoing charges
You continue to pay the Membership Fee and all other charges
associated with living in your apartment, including any arrears,
until your apartment is sold
Redecoration and
refurbishment
You need to redecorate the apartment in the 3 months before you sell
the apartment
You don’t have to refurbish the apartment (e.g. replacing bathrooms
and kitchens) but we can arrange this if you want us to
Insurance
Arranged by
Riverstone
Riverstone will take out buildings insurance, employer’s liability
insurance and public liability insurance. The cost is included in
the Membership Fee
Arranged by residents You need to arrange your own home contents insurance
Funding of major
repairs
There is no ‘sinking fund’ at Riverstone Bishops Avenue. We pay
for all major repair works to the common parts including amenity
spaces (but not individual apartments), refurbishments and
improvements using contributions from the Deferred Fee which we
charge you when you sell your apartment. No extra costs will fall on
residents
