An investment mistake narrowly avoided

12.03.2019

Everything seemed to be going smoothly for this couple wishing to invest in a property in the European district. They soon found just what they were looking for in an apartment near Schuman roundabout and called on BuyerSide to help them with the purchase. A wise move that enabled them to avoid a bad investment. 

A good size, an ideal location... A priori a fine opportunity for this couple keen to invest in the very popular district around the European institutions. So BuyerSide went with them for the second visit to the property in order to make all the necessary checks. 

Beware of appearances

Once in the apartment, BuyerSide was able to take all the measurements, assess the renovation work to be carried out and thus draw up an initial budget estimate. BuyerSide then began its in-depth analysis by consulting the documents of the joint ownership association, the minutes of the general meetings and the statements of account. In addition to the budget for the work, which proved to be particularly high, the joint ownership association turned out to be in a fairly critical state. Owners defaulting on payment, substantial loans for work and ongoing litigation made this investment too risky. 

Search resumed immediately

Having strongly advised its clients not to purchase this property, BuyerSide began looking for an apartment likely to meet all their criteria. Two weeks later, BuyerSide suggested a studio in excellent condition, ideally located near Square Ambiorix. 

As time was of the essence, BuyerSide urged the estate agent to arrange for a visit to the property as soon as possible and analysed all the documents of the joint ownership association that same evening. As soon as the relevance of the investment had been confirmed, an offer was made and quickly accepted. 

BuyerSide is proud to have been able to avoid the worst for its clients while enabling them to acquire the perfect property, quickly and calmly. 

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