J106402 RS All you need to know - The Bishops Avenue AW (4) - Flipbook - Page 18
Five
16
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 financial 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 for all apartments, other than penthouses where the fee
is £10,000.
If the sale does not go ahead, we will refund the Reservation Fee. However, we may
deduct an amount to cover our reasonable costs and expenses which we incurred
progressing the sale, up to a maximum amount of £1,500.
When you sign the contract with us to buy the apartment you need to pay a deposit of
10% of the agreed price. The Reservation Fee counts towards this 10% deposit. Exchange
of contracts usually takes place 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.
