historic residential building for reconstruction

How to close a deal in record time

Location:

The historical centre
of Riga

The property consists of:

A street-facing building (an
architectural monument)

Specifics of the deal

The property owner resided in the USA and had delegated the signing of the deal to their representatives. The property was already under contract for sale when the owner suddenly withdrew from the transaction with this buyer for personal reasons. They also refused to negotiate directly with a new buyer or to consider any changes to the existing
agreement. Additionally, the property was encumbered by 36 rent agreements, 12 of which werelong-term.

The task given to Silver Fox

To complete the deal within a very short timeframe without changing a single term in the
existing sales agreement.

The process of the deal

A new buyer was found, who then managed to attract an investor. Having considered the obvious potential of the property (due to its low sale price), the investor quickly made the decision to fully finance the transaction. Silver Fox experts had to plan and ensure the other components of the deal in record time: an escrow account agreement, payment of taxes, and fast-tracking the procedure of registration in the Land Register. An evaluation of the dissolution of the rent agreements, which were encumbering the property, was
also made for the buyer.

The outcome

After the successful closing of the deal, the renters were vacated from the property, and it was fully renovated. A residential complex with 36 apartments was commissioned and has now received its new residents.

МЫ РЯДОМ С ВАМИ НА ВСЕХ ЭТАПАХ СДЕЛКИ Silver Fox — ваш партнер на рынке недвижимости Латвии с 2004 года. Мы предлагаем элегантные решения в работе с недвижимостью (Smart Property Solutions). ESAM JUMS BLAKUS VISOS DARĪJUMA POSMOS Silver Fox Ir Jūsu Partneris Latvijas Nekustamo īpašumu Tirgū Jau Kopš 2004. Gada. Mēs Piedāvājam Elegantus Risinājumus Nekustamo īpašumu Darījumos (Smart Property Solutions) МЫ РЯДОМ С ВАМИ НА ВСЕХ ЭТАПАХ СДЕЛКИ Silver Fox — ваш партнер на рынке недвижимости Латвии с 2004 года. Мы предлагаем элегантные решения в работе с недвижимостью (Smart Property Solutions). ESAM JUMS BLAKUS VISOS DARĪJUMA POSMOS Silver Fox Ir Jūsu Partneris Latvijas Nekustamo īpašumu Tirgū Jau Kopš 2004. Gada. Mēs Piedāvājam Elegantus Risinājumus Nekustamo īpašumu Darījumos (Smart Property Solutions) МЫ РЯДОМ С ВАМИ НА ВСЕХ ЭТАПАХ СДЕЛКИ Silver Fox — ваш партнер на рынке недвижимости Латвии с 2004 года. Мы предлагаем элегантные решения в работе с недвижимостью (Smart Property Solutions). ESAM JUMS BLAKUS VISOS DARĪJUMA POSMOS Silver Fox Ir Jūsu Partneris Latvijas Nekustamo īpašumu Tirgū Jau Kopš 2004. Gada. Mēs Piedāvājam Elegantus Risinājumus Nekustamo īpašumu Darījumos (Smart Property Solutions)