CBS Buildings - Fees and Expenses

• No fee is needed for submission of the Application Form.
• On behalf of the Participants, URFS will engage consultants (including but not limited to solicitor, valuation consultant and property agency consultant) to provide services to the Participants in the process of reaching a joint sale. When signing of the Facilitation Agreement has reached the Joint Sale Threshold (or even if the Joint Sale Threshold has not been reached but upon the request of the Participants and the exercise of the absolute discretion as stated in Paragraph 2 of “Workflow of Facilitation Project” by URFS), the Participants shall pay the amount below (“the Contribution”) :
• Standard Fee: HK$2,000 per unit ^{Note 1} (payable for each unit) or
• Concessionary Fee for elderly owners ^{Note 2}: HK$500 per unit ^{Note 1}
• In the event that the total amount of the Contribution received is less than the actual amount of the expenses for the consultants’ services, URFS will make up the shortfall.

If a Facilitation Project is aborted for whatever reasons, those Participants who have paid the Contribution will recover their shares of the balance of the Contribution paid which has not been expended, if any.

The Participants who decide to withdraw from the Facilitation Project on their own accord at any time will not be eligible for a refund of any payment.

Upon successful joint sale of property interests, URFS will charge the Participants who have signed the Joint Sale Agreement a service fee of 1% of their shares of the sale proceeds derived from the joint sale. At the same time, the Contribution will be refunded by URFS from the 1% service fee received in accordance with Paragraph 2. Generally, URFS will also charge the purchaser 1% of the sale price as service fee ^{Note 3}.

Note1：	“Unit” means any premises that are described by reference to a specific number of undivided shares in a lot in any instrument registered in the Land Registry.
Note2：	For owner or one of the co-owners holding the properties in personal names who has attained the age of 60 at the Project Selection Date (according to the date of birth as shown on the identity card or passport). Those owners or co-owners who will attain the age of 60 within 1 year from Project Selection Date are also eligible.
Note3：	The 1% charge received from the purchaser upon successful joint sale shall not be interpreted as URFS acting for the benefits of the purchaser in the joint sale process (no matter by auction, tender or negotiation).