Hidden Fees on Condo Turnover

RobsonChen

Hi all, I just got turnover on my condo unit from developer and was shocked with the list of hidden charges amounting to almost 5% of total price. It was nowhere stated in the contract when I first purchased them. Need advise from experienced condo buyers if its normal and reasonable to pay these and what should I do:

Other Charges
Documentary Stamps
Transfer Tax
Registration Fee
Miscellaneous Fee

Appreciate your kind advise.

CaaPacificRealty

RobsonChen Hi. Not a buyer (as you've noted that you'd like to hear from them directly). I'm just a licensed broker who wants to help you. The fees & charges you mentioned are usually written in fine print (e.g. Statement of Account or initial computation prepared by the agent or developer per se). Based on my experience (secondary market), those fees & charges are normally shouldered by Buyers (not Sellers) and they are not entirely hidden as they are part of your task to compute all taxes, fees, etc. prior any exchange or sale. [Note: Sellers shoulder Capital Gains Tax and Broker's Commission]. Thanks