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A notary is required to handle the sale of a property in Malta, with the fee amounting to about 1 percent of the purchase price, Mr. Camilleri said.
(She paid a licensing fee amounting to about 10 percent of the contract for her 2009 novel "Dust and Shadow," in which Sherlock Holmes faces off against Jack the Ripper, and has been an outspoken supporter of Mr. Klinger's suit).
Ms. Francis says these institutions will sometimes convert an ARM into a fixed-rate loan for a flat fee amounting to much less than the closing costs of refinancing.
A fee amounting to a percentage of the seller's profits would ensure money in the reserve fund and a healthy building for those people who bought and stayed, Mr. Weinstein said.
In West Africa, for example, some people pay roving susu collectors a fee amounting to a -40% annual interest rate for looking after their deposits.And the authors of a new book* about the financial lives of people who earn less than $2 a day find that this sort of "pay-to-save" model is by no means unique to Africa.
Although they are reluctant to take on the mayor publicly, executives of some of the city's 41 business improvement districts, which provide security, sanitation, marketing and other services in commercial areas, say they are rankled by the plan to impose an administrative fee amounting to 2percentt of their budgets.
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That fee amounted to roughly a third of the $2 billion acquisition price, a fee amount more than 30 times the norm.
Travel agents had said the fee amounted to a fare increase.
While the fee amounts to pennies per swipe, it rapidly adds up across millions of transactions.
But the fee amount was more than 30 times the norm on Wall Street.
The fee amounts to about 3.8percentt of the overall purchase price of $4.5 billion in cash and stock.
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