All you need to know - Riverstone Kensington - Flipbook - Page 16
Five
14
Costs
We have developed a structure that splits the costs you can expect to pay into three stages:
1.
2.
3.
Buying your apartment (Purchase Cost)
Living in your apartment (Membership Fee)
Selling your apartment (Deferred Fee)
We strongly recommend that you get independent 昀椀nancial advice before you decide
to buy a Riverstone apartment. You will also need to use a solicitor when you buy an
apartment from us.
1.
Buying your apartment
You have to buy your apartment at the price that you agree with us.
You will pay a Reservation Fee once we agree the price.
The Reservation Fee is £5,000.
If the sale does not go ahead, we will refund the Reservation Fee. However, we will
take o昀昀 an amount to cover our reasonable costs and expenses which we incurred
progressing the sale. This might be up to the full value of the Reservation Fee.
When you sign the contract with us to buy the apartment you need to pay a 10% deposit
of the agreed price. The Reservation Fee counts towards this 10% deposit. Exchange of
contracts usually takes place up to four weeks after payment of the Reservation Fee.
You will need to pay the balance of the agreed price on the day you buy the apartment.
You need to pay your solicitor’s fees and Stamp Duty when you buy an apartment.
