3 Tips To Help You Line Up The Perfect Luxury Home
Posted on: 12 October 2019
A luxury home can be the ultimate declaration of your wealth and prestige. Luxury properties are more than just expensive houses, they are the most sought-after properties in a given geographic area.
Purchasing a luxury home comes with some unique challenges that you must be prepared to overcome. Start by keeping these three tips in mind to help you locate, view, and ultimately purchase the right luxury home for you and your family in the future.
1. Work With the Right Agent
You can't hire any random real estate agent when you are hoping to purchase a luxury home. It's imperative that you partner with a realtor who has experience helping customers buy and sell luxury properties.
Many luxury homes that may be available to you are actually pocket listings. A pocket listing is a property that is available for purchase, but not publicly listed on the market.
Real estate agents learn about these properties through their network or contacts. An agent with no experience in the luxury sector may not be able to show you a wide selection of properties to choose from, so it's best to partner only with an agent who specializes in luxury listings.
2. Prepare Your Financial Paperwork
Many people dream of seeing what the inside of a luxury home looks like. This curiosity can generate a lot of traffic, causing problems for the current homeowner. In an effort to discourage window-shoppers from wasting the time of the selling agent and the homeowner, proof of funding will typically be required before you can set an appointment to tour a luxury home.
Be prepared to offer your agent evidence that you have the net worth required to purchase a luxury property and, if possible, obtain pre-approval from your financial institution for a loan that will cover the cost of the home.
Financial paperwork lets a seller know that you are serious about buying, and you will be able to gain entry to any luxury home available for purchase.
3. Demand Confidentiality
If you can afford to purchase a luxury home, you probably have a relatively high net worth. A seller might be tempted to increase their asking price or refuse a lower offer if they know that you have the resources to pay more than the offer indicates.
The easiest way to avoid having a seller increase the cost of a home you are interested in simply because of the notoriety of your name is to demand confidentiality from your real estate agent.
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