How much do I, or my estate, get back when I leave the neighbourhood (exit fee)?
When you leave the neighbourhood, the value of your unit will more than likely have increased. Upon resale of your unit, you are refunded an amount calculated as a percentage of the resale price.
An exit fee is payabe when you leave the neighbourhood. The exit fee is calculated at 10% of the selling price of your Home for the 1st year and 6% thereafter for a maximum of 6 years and is capped at 40%.
The scheme operator is entitled to a return on the capital investment outlaid to develop and operate the neighbourhood in accordance with the Public Information and Resident agreement.
The fee ensures the operator continues to provide the services, manage the neighbourhood, and ensure asset maintenance and replacement of capital items forever.