Due diligence

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hours of fun and it all seems to be based on the lawlessness of tort


Also its an evaluation where you have to have buildings demolished and then you still underestimate the number of bodies by half.

[SIZE=3]the developer claimed £351,453.21 diminution of capital value. They got this figure by deducting the current value of the Site (£50,000) from the purchase price (£385,000), and by adding the legal costs of purchase (£16,453.21). I presume that they bought the site at the top of the market and have subsequently demolished the buildings which were on the site. It doesn't say if the buildings were viable. Presumably the current value also included the fact that it has archaeology still left on it.

The judge also awarded Past business losses of £227,875.00 and the on-going loss at £51,511.00 per annum.
they also give the site costs as
[TABLE]
[TR]
[TD][SIZE=2]Legal costs
[/TD]
[TD]£186.10
[/TD]
[/TR]
[TR]
[TD]Architects' costs
[/TD]
[TD]£14,782.40
[/TD]
[/TR]
[TR]
[TD]Archaeological costs
[/TD]
[TD]£59,436.20
[/TD]
[/TR]
[TR]
[TD]Surveyor costs
[/TD]
[TD]£38,971.83
[/TD]
[/TR]
[TR]
[TD]Planning costs
[/TD]
[TD]£11,992.50
[/TD]
[/TR]
[TR]
[TD]Miscellaneous costs
[/TD]
[TD]£9,146.05
[/TD]
[/TR]
[TR]
[TD]Works costs
[/TD]
[TD]£14,386.40
[/TD]
[/TR]
[TR]
[TD]Total
[/TD]
[TD]£148,901.48
[/TD]
[/TR]
[/TABLE]

so all the damages come to £728229.69 and yet it seems that for £59,436.20 you can get two phases of evaluation and the excavation of 100 bodies with about 100 left which would cost another £90,-100,000. What the judge has not asked is what would the site be worth if the archaeology excavation had been completed and why the defendants don't just stump up for the archaeology

What is a Property Enquiry Certificate (PEC) and more to the point how much does it cost and can it be insured against

these pecs seem to be scottish and can be issued by councils:http://www.edinburgh.gov.uk/info/180/pla...cates_pecs seems a bit odd that if a peg is all about what the council knows about a site that the archaeology was missed off to then be found later.

A standard search for a PEC takes about 20 minutes, for which FSPSL normally charges a fee in the order of £65.00 to £75.00.

[46] The last page of the PEC is headed "Important Information". That information is set out in two boxes. The first box contains eight bullet points. Two of them are of relevance to the current dispute:
"Searches have been carried out by our Enquiry Team of all available Public records in respect of all relevant matters covered by the undernoted legislation and regulations insofar as applicable to the property."

"This search is covered by professional indemnity insurance."

it des not say what the the undernoted legislation and regulations saw about archaeology in most examples that I know they go on about sssis and scheduled monuments and listed buildings but never mention other archaeology with as we all know is a subjection of a regulation of tcpa.

I would have preferred it if the judge had said that everybody should imagine that there might be archaeology on a site rather than somebody can give you a certificate that says there is no archaeology on a site particularly without an evaluation. The fact that the judge seems to base most of the decisions on cases where pegs are not mentioned makes me feel that pegs are a bit new and if I was a seller in Scotland I would not issue any peg. Cant imagine that these pegs will cost £75 any more.[/SIZE]
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