Thanks to its expertise, over the years BuyerSide has become the ideal partner to provide support and advice on buying buildings as investments. Something that was borne out once again by the acquisition of this fine building in Schaerbeek for one of our clients, who was planning to let it out.
An investment building for a new life
One of our clients, who has just retired, wanted to invest in a building in Brussels that could be let out. He decided to call upon the BuyerSide experts to support him and help him invest wisely. We very quickly began our search by activating our network of business finders and informing them of the € 1 million budget and the client’s exact criteria. Having analysed the properties received and paid a number of visits, we selected two that stood out with a view to presenting them to our client and organising the visits.
A very attractive off-market property
After the visits, one of the two properties really attracted our attention and that of our client. It was a building comprising three apartments, in Schaerbeek, with a large garage and planning permission for a fourth unit. The building, which was very well maintained, was up for sale at € 1,050,000 and although it was off-market, a number of people were already interested. So we continued our analyses and contacted several contractors so as to work out how much it would cost to build the fourth unit. Thanks to these estimates, we were able to ensure that there would not be a nasty surprise in store for our client later on. Having looked at all this information, our client told us he was very interested in the property. So the negotiations could start!
Calm, efficient negotiations
Good relations were established with the owner selling the building, who told us that a visit with another potential buyer was scheduled after the weekend. To make sure that the property did not slip through our fingers, we set ourselves the goal of reaching an agreement with the seller before the weekend was over. We therefore organised a second visit with our client and his family on the Saturday and then a third on the Sunday with the owner, our client and a BuyerSide expert. The negotiations were intensive. A good many points had to be settled, such as the date on which the owner was to vacate the premises, the work to be done and of course the price.
After three hours of discussion, we emerged from this final visit with a signed offer of € 985,000. An agreement had been reached and both parties were delighted. As all the points had been discussed and negotiated, the pre-contract was quickly signed with the seller’s notary. The same applied to the deed of sale, which was signed just a month and a half later.