PLG were instructed on a purchase search.
For a delightful family in Birmingham whose daughter has severe cerebal palsy as a result of clinical negligence. The case had settled and the request was to find them a suitable property that could be purchased and adapted for their needs.
The current family home was quite modest and it was simply not physically possible to establish any sort of adequate, and badly needed care regine that would provide huge help to the family.
Taking into account budget contraintys we were looking at houses with large plots, to enable them to be extended and/or adapted.
the search begins
The search spanned a number of months and had a number of false starts, with another property initially identified and subsequently offered on. However, during the due diligence undertaken we were able to establish that the preferred route of a major link road ran very close to the property and may even require an element of the garden. The agents and vendors pleaded ignorance to this and in any event, the search began again.
Despite the difficulties of the search, a further property was identified in the right area that had potential to meet the family’s needs.
finding the property
The large 6-bedroom house had 7 reception rooms and a large plot to the rear. The property needed a full refurbishment as it was in a poor condition but offered plentiful space. It was thought there were several possibilities on how the design could be progressed to build the bespoke family inclusive home.
Following the second viewing with the family, they fell in love with the property, with their daughter instantly befriending Percy the neighbourhood peacock.
This was the deciding factor and an offer was made for purchase and subsequently agreed at a level below the asking price with a delayed completion to give the vendors time to secure another property.
With ideas for the project firmly in mind, the next steps were to look to arrange our Pre-Purchase Report, or as we call it a PPR. This included organising a Full Building and Valuation, Electrical Condition Report, Plumbing Condition Report, timber and damp report, Asbestos Survey, CCTV Drain survey, and a ProMap Land Search.
A key element of the the PPR is that once these were undertaken, it summaries the results for all parties and the findins are presented in a clear and precise manner fully relative to what is being proposed. It was clear that there were a number of items that we needed to be addressed, with over £40,000 worth of defects identified, including a large amount of asbestos, structural issues with the roof(s) of the property and a full electrical updated needed.
When reviewing the report in detail it was evident that a number of the points raised were going to be undertaken as part of the main project but there were issues such as asbestos and structural problems with the roof that were most certainly not.
A meeting was held with the vendor and the points discussed in detail. It transpired that other buyers had been put off the property at a late stage and he had never been able to establish why. Tense negotiations followed and a reduction of £20,000 was agreed after we had secured contributions from other parties in the chain. Contracts were exchanged in the same week with the originally agreed delayed completion set.
Notwithstanding some of the complications of this particular case, a large part of the financial risk had been mitigated and the property represented a fantastic opportunity for the family to create their ‘perfect home’,… Pery the Peacock and all.