Exit Fees
What are the Exit Fees?
For purchasers of new units at the Resort, the exit fees are based on the price achieved at the time of resale. The minimum exit fee is 7.5% of the resale price and the maximum amount is 35% of the ingoing contribution/resale price after 10 years or more. All exit fees are payable on the date of the settlement.
A different calculation will apply to later purchasers of ‘resale’ units, and only first-time sales will benefit from sharing in 100% of the net capital gain.
We recommend that you should read the Public Information Document carefully so that you understand the contract you are entering into and all your obligations therein. We do suggest you seek professional advice before entering into any contractual agreements.
The exit fees payable upon the resale of a resident’s home is set out in the calculation below:
| Less than or up to 1 year (1st year) | 7.5% |
| 1 year or more but less than 2 years | 12.5% |
| 2 years or more but less than 3 years | 17.5% |
| 3 years or more but less than 4 years | 20.0% |
| 4 years or more but less than 5 years | 22.5% |
| 5 years or more but less than 6 years | 25.0% |
| 6 years or more but less than 7 years | 27.5% |
| 7 years or more but less than 8 years | 30.0% |
| 8 years or more but less than 9 years | 32.5% |
| 9 years or more (10th year) | 35.0% |
Disclaimer: We have, in preparing this information, used our best endeavours to ensure that the information contained herein is true and accurate. This information may change without notice, and will be varied from time to time in accordance with any relevant changes in legislation, and changes in new contracts being offered at the time of purchasing. 18/12/2009.
