J106402 RS All you need to know - The Bishops Avenue AW (4) - Flipbook - Page 26
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What does the Deferred Fee cover?
The Deferred Fee:
• Covers the cost of major capital works, refurbishment and improvements to the
buildings and amenities at our Riverstone locations
• Enables Riverstone to invest in extensive and high-quality communal amenities for our
resident o昀昀ering at our Riverstone locations
• Allows Riverstone to o昀昀er 昀椀xed Membership Fee options. We do this to give residents
peace of mind that their Membership Fee will not increase whilst they own an
apartment. This is true even if our operating costs increase
Riverstone will keep part of the Deferred Fee as a return on our investment.
Riverstone strongly recommends that you get independent financial advice. You need
to take into account your individual circumstances and your financial needs before
you decide to buy an apartment at Riverstone.
What are the ongoing charges?
You have to keep paying the Membership Fee until the apartment is sold, even if you’re
not living in it. You or your representatives have to pay any unpaid Membership Fees
when you sell your apartment.
You also need to pay for your solicitor’s sale fees and any removal costs.
Do I have to redecorate or refurbish when I sell?
You need to redecorate the apartment in the 3 months before you sell it but you don’t
have to refurbish it (e.g. replacing bathrooms and kitchens). We can arrange this if
you and Riverstone agree on the price and type of works to increase sale value. If you
wanted to refurbish you would pay for it, but we might consider making a contribution
towards the refurbishment costs. If we did, we would not charge interest but would
collect the contribution out of the money you receive when you sell your apartment.
