Urban Renewal Authority
Redevelopment Projects Reimbursement of Surveyors'
Fee
Owners may employ the service of a surveyor to assess
the market value of the property and to negotiate with the Urban Renewal
Authority (URA) on the offer to purchase. URA is prepared to reimburse
professional fee for such amount as described below (without interest) provided
agreement for sale is reached within the offer period and the sale and purchase
of the property are eventually completed. The payment will be limited to the
engagement of one professional firm of surveyors for each purchase offer or
interest as appropriate.
The professional fee reimbursable will be based
on market value only (excluding any Home Purchase Allowance, Supplementary
Allowance or Ex-gratia allowance) and calculated on the basis of 1.5 times the
full fee quoted in paragraph 2.1 of the ˇ§Scale of Professional Charges for
General Practice Services in Hong Kongˇ¨ (scale of charges) issued by the Hong
Kong Institute of Surveyors effective from 1st October 1995, subject to a
minimum payment of HK$5,000.
Under very special circumstances, for
complex cases and with the prior agreement of URA, surveyor fees may be
reimbursed in accordance with the scale of charges in Scale 1.8 (time charges).
Supporting documents such as a schedule of the time involved in the case and the
level of surveying staff involved in the various aspects of the work of a
reasonable scale, having regard to the nature and value of the property should
be submitted to the URA for verification and determination.
The
valuation report prepared by owner's consultant should be signed by a Registered
Professional Surveyor (General Practice Division) or Professional Member of the
Hong Kong Institute of Surveyors, General Practice Division. A list of all
surveyor firms that consist of at least one full time qualified consultant has
been provided by the Hong Kong Institute of Surveyors and is enclosed (Annex B)
for owners' information. To facilitate processing, the valuation report should
be submitted to URA 21 days prior to the
expiry of the offer period whether or not such offer is accepted by the owner.
URA reserves the right not to entertain the fee reimbursement request
if the report is not submitted before the date above described or the report
submitted does not cover the relevant items in the sample report as per
Annex
A.
The URA will reimburse such
fees direct to the firms who have been appointed by the registered owners of the
property. This will streamline processing and save the owners from having to
make a claim after payment. Owners should ask their surveyors to forward
invoices to the URA for direct reimbursement.
Please be reminded that
URA merely reimburses such fees on the aforesaid services provided to the
registered owner of the property as the client and therefore, invoices must be
in the name of the owners or their solicitors, not in the name of URA. In
addition, a return from the owners confirming that the surveyors' services have
been discharged will also be required for processing reimbursement.
For
avoidance of doubt, the following is highlighted for reference in seeking
payment of surveyors' fee:
A full valuation report, with a copy of the surveyor firm service
appointment letter signed by the registered owner, should have been submitted to
URA 21 days prior to the expiry of the offer period;
and
An invoice with breakdown figures and registered owner's return confirming
that the services have been discharged.
Other Related Topics:
This web page is issued for the purpose of general reference
only. The information contained herein is with reference to the principles and
practice of the Urban Renewal Authority prevailing at the date of issue of this
web page. It shall not constitute any representation on the part of the Urban
Renewal Authority or give rise to any expectation whatsoever and shall not be
relied on as such. Each case will be considered on its own merits having regard
to all factors and circumstances. The terms of acquisition to be offered are
subject to the principles and practice of the Urban Renewal Authority prevailing
at the time the offer of acquisition is made and are subject to review from time
to time as the Urban Renewal Authority shall at its absolute discretion consider
appropriate. The Urban Renewal Authority's right to add to, amend or delete the
whole or any part of this web page is hereby reserved.
