Hofland Road- Property Sale
Client Background
The executors of an estate entrusted us with the sale of a charming two-bedroom property located in West London. Our mandate was to liaise with the solicitors representing the executors throughout the sale process.
Challenge
A key challenge was to balance the executors’ desire to maintain tenant occupancy for continuous income with the need to market and show the property effectively to potential buyers. This required delicate handling to ensure minimal disruption to the tenants while maximising the property’s market exposure.
Back to Case Studies Contact UsProject Objectives:
- Tenant Liaison: Maintain clear and sensitive communication with the current tenants to coordinate viewings with minimal inconvenience.
- Marketing Strategy: Implement a marketing strategy that accommodates the tenants’ presence while effectively showcasing the property.
- Sale Maximisation: Achieve a competitive sale price through strategic marketing and negotiation.
Solutions Implemented:
- Block Viewings: Organised block viewings to consolidate property showings, minimising disturbance to the tenants.
- Competitive Bidding: Fostered a competitive bidding environment by highlighting the property’s charm and potential, leading to significant interest from multiple parties.
- Effective Communication: Maintained regular communication with both the tenants and the solicitors to ensure a smooth process.
Time and Budget
The sale process was conducted efficiently, with careful consideration of the executors’ wishes to maintain tenant occupancy for as long as possible.
Results and Achievements
The property attracted strong interest, resulting in seven prospective parties entering into competitive bidding. This strategic approach culminated in a successful sale, achieving just over £1,000,000. The delicate balance between tenant occupancy and the sale process was effectively managed, demonstrating our commitment to client objectives and tenant welfare.