Kensington - All you need to know - Flipbook - Page 13
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Selling your apartment
Charges when leaving or selling your apartment:
Deferred Fee
Under Riverstone’s “Value in Choice” o昀昀ering, three Deferred
Fee options are available. These correspond to Options 1-3 of
the Membership Fee. We calculate the Deferred fee as a
percentage of the sale price or open market value, whichever is
greater, when you sell your apartment. We do this by accruing
an annual percentage charge for every year that you own
the apartment
Option 1: 4% charge for every year or part year that you
own the apartment. Under this option, the Deferred Fee is
capped at 28%
Option 2: 6% charge for every year or part year that you own
the apartment. Under this option, the Deferred Fee is capped
at 30%
Option 3: 7% charge for every year or part year that you own
the apartment. Under this option, the Deferred Fee is capped
at 35%
We charge the Deferred Fee when you or your representatives
sell the apartment after the original occupants stop living there.
We refer to the original occupants as “designated occupiers”
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
