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4 Mistakes to Avoid When Buying a Luxury Home in South Florida

Posted on: August 16, 2019

Buying a luxury home in South Florida is no small task. There are a lot of factors at play, and it’s easy to make a mistake that isn’t apparent until it’s much too late. Luckily, we know all the ins and outs of luxury home buying, so we can warn you about some of the biggest slip-ups people make. Here are four major things to consider when purchasing a luxury home.

Basing Your Offer on the Asking Price

When you find your dream home and you want to make an offer, always look at the market value rather than the asking price. This will help you see what other homes in the area have sold for and how long it took for them to sell, so you can decide if the asking price is fair or not.

Not Getting Pre-approved by a Lender

Unless you have been pre-approved, you shouldn’t start searching for houses. Many people mistake pre-approval with pre-qualification. Pre-qualification is just the first step, but becoming pre-approved turns you into a cash buyer and makes for easier negotiations with the seller.

Getting Caught Up on First Impressions

Buying a home is an emotional journey, and it can be easy to be swayed by a first impression. Make sure to look beyond the decor and features of the home that can be easily changed; even though the previous owners may not have had your style, the home itself may be just what you’re looking for with some minor adjustments. On the other hand, don’t let the “perfect” paint colors or furniture sway you into a home that you wouldn’t really be happy with.

Not Understanding Your Rights

When you are sending in an offer, it is crucial to get an attorney on your side. Going through the purchase agreement can seem tedious, but with a good law firm on your side, you will be able to fully understand your rights and obligations, saving you from signing a poorly written contract or getting in over your head. 

This is where we come in. As the premier South Florida luxury real estate attorney, Mark Schecter has been in the business for years and is passionate about helping his clients find the luxury homes of their dreams. Contact Schecter Law today at (954)-779-7009 to learn more.