Consider these tips before buying your luxury dream home.
- Learn the search process.
Many luxury homes go unlisted to protect a seller’s privacy. Luxury high-end properties that are listed off-market are often found through the Realtor’s personal connections, not the MLS.
- Go beyond the photos.
Don’t dismiss homes based on their front elevation photo. Take is a step further and search the property and vicinity on Google Earth so you can see what’s around the home
- Work with a local real estate expert.
It’s critical to have a good agent who is familiar with the area you want to buy in. There’s a bit more control on access to high-end properties in terms of fewer open houses and more appointments have to be made to see them.
- Document everything.
There is more scrutiny today in the high-end market. Financial documentation is critical. Anyone who is making a lot of money has a manager or an accountant and tries hard to shelter their money so it can be difficult to show the bank you have the income.
- Hire smart, reliable advisers.
A good Realtor won’t make the client’s decisions but will make suggestions. Pay attention to your financial planner and Realtor that you trust. They should agree on what you should be doing and if they don’t, arrange a meeting.
- Negotiate.
Have your agent research the comparable properties that have recently sold, getting closing prices, right before you make an offer.
Source: HGTV
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