«Bruno Müller represents the community of heirs and states: «We probably would have sold the apartment building housing 12 apartments much sooner had the financial crisis not happened in 2007. So, after the death of our mother this property offered a secure investment and stable yield, in spite of the low rents. However, the need for renovation increased rapidly each year and finally the realtors advised us to consider the future of the property. The building was constructed in the 60’s and never underwent substantial renovations.

A number of possibilities emerged: One was to keep the property in the community of heirs and to implement the renovations as a conglomerate. Another option was for one or two siblings to take over the entire property and responsibilities. Both options were discarded after a diligent investigation and extensive discussion with our children. We would have received the two million financing for the assessed renovations, yet we decided against this option for personal reasons, the time and intensity of the job ahead was not what we wanted to commit to. The only option left was to sell, not an easy task emotionally. Our grandfather built the house and our father, years later, had a hip roof constructed. This house holds family and emotional history. In addition, we hesitated due to the lack of alternative investment. How would we seriously invest the profit in sales? We were aware that the current low interest rate environment would influence the ultimate expectancy in gains.

The results illustrated in the extensive market estimate documentation by Walde & Partner made the process to decide for us four siblings much easier. Very quickly we all settled on the same results; to sell the property, normally not a simple case in a community of heirs. Walde & Partner convinced us with their know-how and enormous experience in the market and extensive network. In addition we felt convinced and comfortable by their bid to choose between a fixed-fee in comparison to a contingency fee. Soon after giving Walde & Partner the mandate we were presented with an ideal buyer. I look back and am happy to state we were advised with great competence and engagement in all points, ultimately resulting in an amiable and successful sale. Today the heirs are left with lovely memories of our grandfather’s property and a sales profit resulting much better than we had hoped for.»