DevAssist has created another unique report to its portfolio. Originally it was targeted towards the Probate market but interest has already been shown from other professionals such as asset managers, accountants, debt recovery experts and estate agents.
It simply gives a development opinion on a property asset. The team at DevAssist have far too often seen property assets sold for far less then their true value, principally because no one ever thought to investigate its true potential. Now in less than 24 hours you can quickly see if the asset has the potential to be exploited for an alternative use and perhaps an increase in its value.
Two years ago a small strip of land owned by a housing association was sold to a domestic neighbour for £2000. The HA applauded themselves for selling off a maintenance liability! The buyer also had no idea what he had bought and sold the property on the Mr & Mrs X. They equally did not know hat they had bought, nor had the estate agents and solicitors involved in the transaction.
Two years later the land had been originally sold for 2k was sold to a developer who wanted to buy the property in its entirety as an access to a development site.
The new buyer is now £500,000 wealthier (and that increase in equity is tax free!).
The reports expose assets potential giving the professional peace of mind that they are not exposed for selling under value. It improves the client’s perception of their solicitors work and also removes potential negligence claims. Furthermore it reduces the time spent on certain transactions improving the efficiency of the solicitor or other professional.