J106402 RS All you need to know - The Bishops Avenue AW (4) - Flipbook - Page 24
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3.
Selling your apartment
What is the Deferred Fee?
We only charge the Deferred Fee when you or your representatives sell the apartment
after the original occupants are no longer living there. We refer to the original
occupants as “designated occupiers” in the lease. We take the Deferred Fee from
the amount you or your representatives receive when you sell the apartment.
We calculate the Deferred Fee as a percentage of the sale price achieved 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
up to a capped percentage amount. The annual percentage charge and Deferred Fee
cap is di昀昀erent under each Option.
Riverstone will only charge the Deferred Fee for the actual number of years and days
that you own the apartment.
We set out below how Deferred Fees are calculated depending which option you choose
under our “Value in Choice” o昀昀ering:
End of year
Option 1
Option 2
Option 3
% charge
per year
Cumulative
% charge
% charge
per year
Cumulative
% charge
% charge
per year
Cumulative
% charge
1
4%
4%
6%
6%
7%
7%
2
4%
8%
6%
12%
7%
14%
3
4%
12%
6%
18%
7%
21%
4
4%
16%
6%
24%
7%
28%
5
4%
20%
6%
30%
7%
35%
6
4%
24%
0%
30%
0%
35%
7
4%
28%
0%
30%
0%
35%
8
0%
28%
0%
30%
0%
35%
9
0%
28%
0%
30%
0%
35%
