0 December 26, 2014

3 Tips For Buying Luxury Real Estate

Discerning buyers may have a different set of requirements when looking for real estate. If your budget is higher than the average buyer you’ll likely need to navigate through a different set of obstacles to make your purchase. Using the internet and a solid offline approach to finding your ideal home forms a powerful one-two punch which helps you identify your match effectively.

Use these 3 tips for buying luxury real estate.

Be Open

Shopping for luxury real estate is not like buying your average home. Sellers need to know that you are serious and qualified to purchase. Nobody wants to waste their time with a tire kicker or wannabe who inflates their net worth just to get a look at a luxury home from the inside-out for the first time in their life.

Be prepared to share details from your life, including your financial situation. You need to share what you do for a living and the number and nature of your assets. Sharing your net worth is almost always a requirement if you’re searching for luxury real estate. You need to be qualified to buy a luxury home. Be ready to share your bank statements and a letter from your accountant verifying your true net worth. This can serve as both proof of down payment as well as an indicator that you are a serious buyer who’s not intent on wasting anybody’s time.

Do Your Homework

Do thorough due diligence both offline and online to narrow your search. Run queries online to find your ideal home in the ideal location. Finding luxury real estate brokers online is a breeze in this day and age. Use Google, Facebook, Google Plus and niche specific online forums to identify reputable, trusted brokers who will aid you in your search.

Social media websites and online forums can provide you with golden word of mouth marketing. Finding both glowing testimonials and negative endorsements of brokers, neighborhoods and other factors gives you a reason to proceed in a certain direction or to turn around on your journey. You’ll have a better idea of what you want in a home by getting crystal clear on what you don’t want.

Go the Pre-Approval Route

Get a pre-approval letter to give your seller peace of mind. The letter is no guarantee that you’ll receive the mortgage you want but if the seller decides to take their home off of the market they’ll be confident that you’re ready to buy. Quelling selling fears is as important as getting specifically what you want in a home. You may have identified your ideal luxury real estate but if a nervous seller doesn’t like your delivery you won’t be able to buy. Get a pre-approval letter from your bank to smooth out the buying process.

www.thereznikgroup.com/miami-beach-homes/miami-beach.htm