Luxury Home Buying Tips
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1. Learn the search process.
Many luxury homes go unlisted to protect a seller’s privacy. These properties are often found through the Realtor’s personal connections as opposed to the MLS. Check out other online sources. View virtual tour if available
2. Go beyond the photos.
Check the vicinity of the area. See if you can get aerial shot of the neighborhood through Google Earth
3. Work with a local expert.
Work with someone with knowledge of your area of interest
4. Bank on your relationships.
Go to the bank you have a relationship with. They have your portfolio already. They also know what you need to be pre-approved
5. Document everything.
There is more requirements and scrutiny in the high end market. Make sure all paper is filled out correctly and have a source
6. Hire smart, reliable advisers.
A great 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.”
7. Don’t forget about title insurance.
Must have. It is for your protection
8. Look into the future.
Be aware of your surrounding and see what is developed around you. Have a definite time line in mind. You don’t want to tie up your funds for a long period of time
9. Stay with your preferences.
This is a valuable investment and you deserve to get what you want and can afford
10. There’s room to negotiate.
Make sure your Realtor search comparable properties to make sure you get the best offer and all your money can buy