Case Studies

Exiting from a large mortgage

Tim from Ireland owned a fully furnished, 2 bedroom apartment in district 6 with large mortgage on it. The property was rented for approx. 600 EUR per month. He wanted to exit from the investment which seemed almost impossible. Unfortunately the debt was above the expectable purchase price. Tower has put the property on the market immediately.

A buyer has shown up and the apartment has been sold for a price which Tim found acceptable. Furthermore, Tower’s experienced consultants managed the bigger part of the remaining debt to be waived by the bank.

Selling an apartment in 1 week

A property Owner from the UK has contacted Tower and asked for assistance in selling his 1-debroom downtown apartment. He bought it as an investment in a popular newly built development in Ó street, District 6. Krisztina gave him a valuation on his property and managed to advertize it instantly on Tower’s listing sites as well as on popular Hungarian property websites.

Within 1 week in Autumn 2014 the property was sold to a Tower database client who is a French cash buyer and could pay in EUR.

Conflicting interests

The Owner of a 1 bedroom apartment in the popular Madach Gardens (Gozsdu Court) contacted Tower. Although his management company had listed the apartment for sale they were not able to sell it. (They were rather interested in keeping it managed).

Finally Frank contacted Tower and the apartment was listed immediately. Tower successfully sold it within 2 weeks.

How Tower helped a Landlady to her mismanaged apartment

Mary’s classical 1-bedroom downtown apartment was managed by a local Hungarian agency unwilling to help her in selling her property. She contacted Tower asking for a fast and efficient solution as she was in need of money. After having a personal consultation and a quick valuation from Krisztina, Tower’s sales agent and professional photographer visited the apartment and prepared the advertisement the same day.

While the photographer was taking photos in the apartment Tower’s sales agent began talking to the tenant. It turned out that the tenant was interested in buying the property and indicated his strong interest many times – it simply was never forwarded to the Owner. Hiding information made the Landlady to switch to Tower’s property management. Eventually the tenant’s purchase offer was forwarded to Mary by Tower, which she accepted immediately.