Kensington - All you need to know - Flipbook - Page 28
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How can Riverstone help with marketing for resales?
If you use Riverstone as sales agent, you will have access to the following Riverstone
marketing services:
• We actively manage our database of interested parties and any waiting lists. We
would always look to match potential buyers to those sellers who use Riverstone as
sales agent
• Our marketing team actively advertise and promote our locations and available
apartments across London
Are there any pricing and other sales restrictions?
We want to protect the value of your apartment and other apartments at Riverstone.
This is why our lease doesn’t allow the agreed price to be less than “open market value”.
Our lease describes “open market value” using the RICS (Royal Institution of Chartered
Surveyors) Red Book de昀椀nition of market value. Our lease does allow you to gift the
apartment to a friend or family member or pass it to someone in your will. For gifts like
this or sales at below open market value, we calculate the Deferred Fee using the open
market value of the apartment.
Riverstone is operating a retirement community at Riverstone Kensington. This is why,
when you sell your apartment, every buyer has to provide details of at least one person
aged 65 or over who will live there. We call these people “designated occupiers” in
our lease. We require all future occupiers to have an introductory conversation with a
Riverstone Wellbeing Ambassador. Please ask our client advisors for a copy of the Lease
Summary for more information. This explains how we assess and manage who can live
at Riverstone Kensington.
One of our client advisors needs to be involved in every resale process. This includes
sales viewings, whether you choose us as sales agent or not. This is important because
we need to make sure that information given to buyers is accurate and not misleading.
We also need to make sure that the Riverstone retirement living concept has been
properly explained to buyers. Where you do not choose us as sales agent, we will
charge a 昀氀at Administration Fee of £550 plus VAT to provide this service. Where you do
choose us as sales agent, we will not charge the Administration Fee.
