It was a very educational period; we have probably gone through all the possible adversities that can happen in the sale of real estate. First, we had to recreate the lost documentation, then prepare a marketing strategy, plan presentations and future development of the property strategy.
Many potential buyers expected additional value in the purchase in the form of expansion, development and commercial use of the property. Therefore, we reached an agreement with the local commune and prepared a special development package, then we invested in refreshing the key areas of the property including refurbishing of rental suits as well as the equipment around the property. This process took several months, but the final result was well worth the investment.
Then came COVID-19, which delayed all processes and forced us to build a totally new sales strategy. The only support was financial documents and valuations, which were also carried out on our behalf. Unfortunately, subsequent restrictions on travel led to a situation in which 2 customers resigned. We had to start the process of vetting new potential clients, increasing our investment of time on placing the property in exclusive international internet portals.
In the end, despite the raging pandemic, we managed to meet all the expectations of our Client. The negotiation process was 90% online, with development plans and location being the most important. At the moment, the transaction is at the stage of a preliminary contract and an advance payment, we are waiting for final approvals regarding the purchase of the property by the investor, hoping that the finalization will take place at the turn of March April 2021.