South Florida Luxury Home Buying Tips

Five Tips To Secure Your South Florida Luxury Home

If you are planning on a luxury home purchase in South Florida, it is very important to keep in mind that luxury homes sell at a premium because they’re luxury homes.

This means you will likely need to offer more than the asking price and pay additional closing costs to get your dream luxury home. With luxury real estate sales increasing over the last year and luxury homes selling faster, you should be well equipped with knowledge about how to ensure your deal gets done before someone else’s does.

Here are five tips to help you get the in the best position for your luxury home purchase:

1. Pay attention during negotiations:  You should not be shy or afraid of speaking up during negotiations as this may cost you money and disturb your chances of getting the property. Properties are rarely reduced in luxury real estate, but it does happen, the best deal, is to land the home of your dreams. Sometimes the price may be reduced by a nominal amount, usually less than five percent because luxury homes are purchased almost exclusively by cash buyers or those with very high net worths who need very little wiggle room on the purchase price. 
2. Offer more than the asking price:  This is especially true if you are looking at luxury condominiums. If you are not sure what to offer over the asking price, have an experienced luxury home specialist work with your luxury real estate attorney to determine what you should offer so that it meets your bottom line number. It is better to go higher than lower as how much over the asking price you’re willing to pay can be negotiated later.
3. Pay your luxury real estate closing costs:  Most luxury condominium sellers will expect to cover the luxury sales tax, legal fees, and other luxury closing costs. If you would like the opportunity to recover some or all of these luxury closing costs, make an offer that includes them in your purchase price. You should still be prepared to pay additional luxury closing costs if they are not expected by the seller nor included in your initial terms package.
4. Make sure your contract is ironclad:  The only way you can get out of a luxury home purchase after signing a contract is if something unforeseen has occurred, such as losing your job or medical emergency (and even then it’s unlikely). It is also important to remember that luxury real estate contracts are negotiable. If you are not careful, luxury homes can be lost during negotiations if you do not have an experienced luxury contract negotiator on your side who knows the luxury home buying process inside and out.
5. Get professional luxury home buying assistance:  This is very important. Luxury real estate agents tend to play a more supportive role in luxury home purchases, but luxury buyers need assistance from luxury specialists who know how to get deals done quickly so as to maximize their negotiating power with sellers and ensure they receive all of the possible incentives afforded by doing things such as paying luxury closing costs or offering over asking price.

The most important asset is your South Florida Luxury Real Estate Attorney. Contact Leah Mayersohn today to learn more about how he can help you with your South Florida Luxury Home purchase.