Southern California Luxury Property Buying Advice

Luxury So Cal Home

Purchasing luxury property can be somewhat different from lower end real estate. The negotiation, inspection, and mortgage process can be more lengthy and require additional attention. On of your first steps should be selecting a real estate agent to assist you in the process. Below you will find basic Southern California luxury property buying advice.

Selecting a Realtor and Submitting Offers

Identifying home values and negotiating luxury property prices require experience with the luxury home market. Luxury properties also feature amenities not usually found in lower priced homes, thus not all real estate professionals will be equipped with the knowledge and training to properly advise you on pricing. Selecting a good Realtor who specializes in luxury properties is critical for price negotiations as well as other key phases in the luxury home buying process.

The Inspection

Inspection of luxury properties may require special skills and lengthy time frames. Luxury residences often include high-end amenities and systems that not all inspectors are familiar with. If you do not know a home inspector qualified to evaluate such features, ask your Realtor for a referral. Also permit sufficient time during the inspection, especially when buying large estates. Inspections are a means to better understand the condition of your investment. Do not skip or rush through this informative step.

Financing a Luxury Home

Most luxury real estate is acquired with some type of financing. Higher price ranges often require jumbo loans. These loans may take a little longer for approval. They can also require extra financial documentation or appraisals. Having proper personal financial records will help facilitate underwriting review. Despite taking longer than cash deals, most home buyers with mortgages can effectively compete with cash buyers when presenting attractive terms. Your buyer agent can advise you on the best way to present your offer when bidding against other parties.

Additional Southern California Luxury Property Buying Advice

The Southern California luxury property buying advice above contain just a few key items. A realtor can provide a wealth of knowledge and support. The right agent can also facilitate a smooth and successful purchasing experience.