Bishops Avenue - All you need to know - Flipbook - Page 24
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3.
Selling your apartment
What is the Deferred Fee?
We only charge the Deferred Fee when you or your representatives sell the apartment
after the original occupants are no longer living there. We refer to the original
occupants as “designated occupiers” in the lease. We take the Deferred Fee from the
amount you or your representatives receive when you sell the apartment.
We calculate the Deferred Fee as a percentage of the sale price achieved or open
market value, whichever is greater, when you sell your apartment. We do this by
accruing an annual percentage charge for every year or part year that you own the
apartment up to a capped percentage amount. The annual percentage charge and
Deferred Fee cap is di昀昀erent under each “Value in Choice” Option.
Riverstone will only charge the Deferred Fee for the actual number of years and days
that you own the apartment.
We set out below how Deferred Fees are calculated depending which option you choose
under our “Value in Choice” o昀昀ering:
End of year
Option 1
Option 2
Option 3
4% per annum
capped at 28%
6% per annum
capped at 30%
7% per annum
capped at 35%
1
4%
6%
7%
2
8%
12%
14%
3
12%
18%
21%
4
16%
24%
28%
5
20%
30%
35%
6
24%
30%
35%
7
28%
30%
35%
8
28%
30%
35%
9
28%
30%
35%
