A case from the real world
We were contacted by a family, who wanted to sell a huge villa, which was too huge for the family.
They would sell their summer house as well.
After this they wanted to purchase a villa matching the family's new wishes and needs.
The family decided to use us as their advisor in all 3 property deals and assist in other matters hereby the financial matters etc. regarding the properties.
Property 1 - the sale of the main villa
We made a plan for, which target group we could imaging would be the purchaser for the family's main villa.
Thereinafter we screened the market for real estate agents, we thought could match this target group.
We invited a selection of agents to visit the property for an evaluation.
The first agent valuated the asking price to 7.300.000 EUR. In our opinion the value should be higher.
The owner told us he would be satisfied with 8.000.000 EUR.
We discussed the case with our client and the other agents and finally, we decided to set an asking price of 8.700.000 EUR.
We got after few days an offer from a buyer through the first agent at 7.300.000 EUR, which we refused, even if the agent meant, it was a fair offer.
We coached the brokers to get them motivated to do their bests in this case, and they were very active and we got very soon many visits.
After some weeks we got 2 offers. One at 8.500.000 EUR and one at 8.400.000 EUR but with different conditions.
After our evaluation of the offers we decided to choose the offer at 8.400.000 EUR, because the conditions were better (more safe deal).
Our client got 400.000 EUR more, than they were satisfied with, so it was a win-win situation!
Property 2 - the sale of the summer villa
The family's summer villa had been for sale at a price of 3.150.000 EUR during a period of 2 years without any visits at all.
We selected some really relevant estate brokers after our screening.
We made agreements with 3 of them, and decided to put it on the market at the same asking price.
After 2 days one of the agents came with an offer at 3.150.000 EUR, and the family's summer house was sold at the asking price.
The family was very satisfied regarding the way we managed the sale!
Property 3 - purchase of a new family villa
After the sale of the huge main villa, the family was in the market for a new family villa.
We screened the market and found many villas, which could match their wishes and needs.
The family visited many villas, but as we often see, a villa can be interesting "on paper", but when you see it in the real world, it can be quite different.
But after some weeks the family found the dream house with panoramic view over the sea, but after some research,
we were a little sceptic regarding some issues.
The property was under renovation, but the owner wanted to sell as is, which our client could accept.
We had some professional evaluation of what the cost would be to finish the work, so they would have their dream home, and then they made an offer.
The owner made a contra offer, which was not acceptable, but after some negotiation we gave up.
Then we found another villa with panoramic sea view as well, and this was extremely attractive.
There where works to do, but the location was very fantastic. We made a lot of negotiation, and finally the seller and the purchaser agreed at a price of 5.800.000 EUR.
Beside a lot of renovation at the new villa, we had to made some changes, and one of the problems was, that there were only 1 parking on the ground, and the access was inappropriate.
But with common help between us and the family, we found solutions, and an independent valuation experts found, that the value of the villa when finished will be 10.000.000 EUR or more.
Bank costs
Regarding the former main villa, the family took some years ago a bank loan with a fixed interest for some years.
When we sold the villa, the loan was to repaid, and the interest was fixed for 3-4 years more.
The bank made a calculation for the cost to repaid before time, and the cost would be 150.000 EUR in bank fees!
We have deep experience in these issues from many countries, and Michael is an old banker as well.
We know from other countries how to avoid such issues or minimalize them, so we made a plan, which we presented for the bank,
but the bank had never heard about such a solution.
We asked them: "Can it be a solution or not?".
They asked their compliance department and after some negotiation, they accepted our plan.
Our client saved 120.000 EUR in bank fees and where extremely satisfied.
Rental of 2 apartments, while the new villa was under renovation
The family found 2 rental apartments, where they could live while renovating the new villa.
We got the rental agreements to research. In both agreements there were nothing specific mentioned in which condition the apartments where,
when they got the keys. But the fact was, that both apartments where absolutely not in very good conditions.
But in the standard provisions was mentioned, that when our clients should leave the apartments, the apartments should be in perfect conditions.
We managed to change this in the agreements, so our clients did not loosed their deposit of 20.000 EUR.
We are at your service at phone no. +33 64 06 16 500 or +33 64 39 14 317
