Downsizer Haven Secured After Due Diligence Discovery
▉ REGION: UPPER NORTH SHORE
▉ CLIENT: DOWNSIZERS
▉ BUDGET: $5.5M
Principal Buyer’s Agent Annabelle Webb & founding Buyer’s Agent Billy Gleeson were engaged by two downsizers moving from the Lower North Shore to the leafy Upper North.
Background
Annabelle Webb and Billy Gleeson from Webb & Co. were engaged by downsizers moving from the Lower North Shore to the leafy Upper North Shore with a budget of $5.5 million. The downsizers were in search of a suitable property that would meet their new lifestyle needs.
Challenges
The property search posed several significant challenges:
Quick Turnaround Needed: The downsizers had a pressing need to find a new home quickly due to the sale of their previous property.
Specific Property Type: They were looking for a specific type of property – a 5-bedroom home on a flat block with a master bedroom downstairs, which limited the available options.
Rigorous Due Diligence Required: The need for thorough due diligence was paramount to ensure the property’s future value wasn't impacted by external factors such as neighboring construction.
Strategy
The team undertook a proactive search strategy. They shortlisted several properties and conducted extensive due diligence, including a thorough investigation into a neighboring nursing home construction project next to one of the potential properties.
Outcome
During their due diligence, Webb & Co. uncovered another off-market property in an adjacent block that better suited the clients' needs. Despite the downsizers initially agreeing to another property, Annabelle presented them with this new option. The clients chose to pursue the second property, taking a risk on losing the initial one. Leveraging Annabelle's negotiation skills and strategic stakeholder management, both options were kept open until the exchange on the second home. This approach led to the successful acquisition of a property that exceeded the downsizers' expectations and was under their budget.
