So you’ve paid in full for the property, what about those other payment for survey, development levy, have you paid?

In consequence to the different failed transactions between investors and real estate developers this year, a major cause is Statutory Fees are unpaid. First and foremost, what is statutory fees?

After paying for a property, there are some levies or charges attached, for survey, infrastructure, legals, sometime agency. Although, these fees and charges might look unnecessary, if you buy from a real estate company, they are compulsory.
Furthermore, these statutory fees are mostly subject to reviews and changes, that’s why you should never owe statutory fees when you buy a property.