A friend is purchasing an investment property that is in receivership as is most of the other properties in the estate. The property has been severely damaged internally from the previous occupants who didn't take to kindly to being turfed out on the street. All plumbing, copper, light fittings or anything they perceived to be valuable was stolen. An area of serous social derivation. Most of the other properties are boarded up or vandalized etc. etc.
We went down to look at the house over the weekend as my mate was having the property surveyed. I could see by looking at the surveyors face that he couldn't believe what he was seeing. He informed my friend that the property was structurally sound but advised to run a million miles away from the purchase. My friend isn't listening and is going ahead anyway. He's a cash purchaser and feels the property is a bargain.
To cut a long story short my questions are as follows:
Why is my friends solicitor looking to draw the building surveyor deeper into the contractual investigations of the property i.e. mapping of the property etc. The man has already issued
the structural report so it feels like the solicitor is trying to tie him up in her conveyancing of the property??
There are serious judgements on the property so I am presuming they will be removed before he buys??
I think the purchasing of the property is financial suicide plus from what I've read the of the contacts something just seems off.
We went down to look at the house over the weekend as my mate was having the property surveyed. I could see by looking at the surveyors face that he couldn't believe what he was seeing. He informed my friend that the property was structurally sound but advised to run a million miles away from the purchase. My friend isn't listening and is going ahead anyway. He's a cash purchaser and feels the property is a bargain.
To cut a long story short my questions are as follows:
Why is my friends solicitor looking to draw the building surveyor deeper into the contractual investigations of the property i.e. mapping of the property etc. The man has already issued
the structural report so it feels like the solicitor is trying to tie him up in her conveyancing of the property??
There are serious judgements on the property so I am presuming they will be removed before he buys??
I think the purchasing of the property is financial suicide plus from what I've read the of the contacts something just seems off.