Buyers must be fully aware of the risks involved when purchasing property from distressed sellers, warns Norton Rose real estate partner David Hawkins. Speaking in the tenth and final Legal Week Crisis Management Q&A in association with Norton Rose, Hawkins says that a good price does not always mean good value if the risks connected with the property are not identified and reflected in the price.Hawkins (pictured) said: "It is important that a buyer appoints a professional team which has the capabilities and experience to review the information in the timescales available, and either from this or from other available sources, identify any risks and provide advice as to the significance of the risks when compared to what one would normally expect when buying a property."
January 22, 2009 at 12:58 AM
1 minute read
The original version of this story was published on Legalweek
Buyers must be fully aware of the risks involved when purchasing property from distressed sellers, warns Norton Rose real estate partner David Hawkins.
Speaking in the tenth and final Legal Week Crisis Management Q&A in association with Norton Rose, Hawkins says that a good price does not always mean good value if the risks connected with the property are not identified and reflected in the price.
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