By jstaler | Published: February 2, 2009

Ive represented buyers and sellers in luxury home and golf club communities throughout Middle TN since 1994.  Throughout the years Ive come up with some solid dos and donts specific to buying TN luxury homes that I thought might be beneficial for me to share with you.  I also came across two  good articles on FrontDoor.com titled Luxury Home Buying Guide  and Top 10 Expert Tips for Buying a Luxury Home that Ive paraphased below along with incorporating my own tips.

1. Learn the search process.

While the majority of home buyers start their search on the Internet, many high-end properties arent officially listed on the MLS or major search engines.  Many Tennessee luxury homes go unlisted to protect a sellers privacy. These properties are often found through the Realtors personal connections as opposed to the TN MLS .  Ive represented buyers and sellers in  luxury home and golf club communities throughout Williamson and Southwest Davidson counties in TN so I often have the inside scoop from both luxury home owners and other area realtors whom Ive worked with in the past.

2. Go beyond the photos.

Make sure you dont dismiss properties based on their front elevation photos. Many large homes are best appreciated in person and many sellers, protective of their privacy, refrain from putting extensive photos of their homes on the Internet.

3. Work with a local expert.

Its critical to have a good buyer agent who is familiar with the area you want to buy in. Theres a bit more control on access to high-end properties.  I have over 14 years of experience  in the local Tennessee luxury home market and with credentials such as (CLHMS) Certified Luxury Home Marketing Specialist and my membership in the CLHMS Million Dollar Guild I can advise on schools, nuanaces of specific TN luxury neighborhoods as well as property specifics.

4. Bank on your relationships.

I suggest all the home buyers I work with get pre-qualified for their TN mortgage  loan prior to searching for their new home regardless of price range .  However, the aforementioned is especially important when searching for high end real estate as luxury home sellers will typically ask their Realtor to bring them only pre-qualified buyers and may ask for proof of such prior to opening up their homes for review.  Also, expect a longer financial approval process. Even if your financials are in good order, count on 45 to 60 days so have your mortgage broker, loan officer or personal banker obtain your financing approval early on.

5. Documentation is everything.

There is more scrutiny today in the high-end market. Financial documentation is critical. Be prepared with bank statements, W-2s, tax returns from the last couple of years and other financial statements. This type of loan can be different than the typical mortgage prequalification process and could require showing asset statements and demonstrate which assets will go toward the purchase.

6. Making an appropriate offer.

Making the appropriate offer isnt as easy as it looks. In some cases, luxury home sellers have the financial wherewithal to hold on to a property until they get the right price.

To determine an appropriate offer price avoid over-reliance on consumer-based property evaluation sites. Instead, have your agent research similar properties in the form of comparable prices for active, pending and sold properties in the last three months from the TN MLS for the most accurate picture of what the property is worth.

If you are thinking of selling or buying a luxury home in Nashville, Brentwood or Franklin TN you should know exactly what its worth before making such an important decision.  Click here for a quick Comparative Market Analysis with data taken from the TN MLS for free, and with no obligation.

7. Dont Forget the Details

The complexity and scale of luxury homes raise the stakes.