Word of mouth to purchase an off-market real property

13.07.2018

Satisfied with our services, a former BuyerSide customer pointed out an off-market investment building to us. We then presented the building to an existing client, who ultimately put us in touch with another prospective purchaser wishing to diversify their assets. And the circle is now complete...

A great investment opportunity
Our buyer was attracted by many of the property’s assets: the proposed yield, the number of units and their size, the property’s liquidity, its compliance with town planning, and the fact it is located in a rapidly expanding district, with strong growth potential and long-term capital value: Brussels’ Jardin aux fleurs.

Selling price reduced by almost 10%
The building analysis carried out by BuyerSide allowed the selling price to be negotiated by - 9%, by highlighting certain elements to adjust the property’s value, such as:

  • rents declared to be at variance with the lease terms
  • existence of a defaulter
  • significant differences in the state of repair of the units
  • absence of individual water meters
  • some minor electrical breaches
  • absence of fire doors.

A task completed in record time
This purchase have been completed in less than 4 months. From the first visit in early September 2017 to the authentic deed signed at the end of December 2017, BuyerSide has:

  • monitored the prospective buyer, from visiting the property to negotiating the price, through the drafting of the contracts, proofreading of the sale agreement and of the authentic deed of sale
  • played the role of facilitator by issuing, on behalf of the seller who lives abroad, all certificates necessary in order to allow the sale (energy performance and electric certificates), implementing it as efficiently as possible according to the wishes of both parties
  • had to replace the notary’s responsibility after the signing of the deed, taking into account the rents and charges, the transfer of rental guarantees and other useful documents.
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