0

What to Remember Before Buying Luxury Homes

Skye Wardle 4 years ago 0

Buying a home is not as easy as it may sound. It is even more challenging to acquire luxury ones and with the variety of choices nowadays from Trump mansions to a plethora of new high end condo units, it can definitely cause a headache. Consider these tips that The Peterson Group Bespoke Condominium and Residences, expert in finding the best homes for expatriates in Singapore, Hong Kong, Jakarta, Indonesia and Kuala Lumpur, Malaysia, has prepared for you:


1. Learn the Search Process


It is not enough that you hire people to do the searching for you. True, the legalities and the systems may be complicated but it is also important for you to be aware of it. At least review the basics so as not to be left at the dark.


According to Remy Cook of Virginia Cook Realtors, “Many luxury homes go unlisted to protect a seller's privacy. These properties are often found through the Realtor's personal connections as opposed to the MLS”.


2. Go Beyond the Photos


In this world where editing is highly advanced that it is highly impossible to know which image is fraud, make sure you don’t dismiss properties based on the front elevation photos. Although they may be luxurious, many large homes aren’t photogenic that way and you have to see them in person to appreciate. Realtors often advice clients do a search of the property and vicinity even on Google Earth so they can see what’s around the home.


3. Work With a Local Expert

It is important to work with someone who is knowledgeable with the area you are interested in. These people should also be experts in the regulations and local laws on land and property acquisition in the area.


4. Document all your Transactions


It is best to be sure of all your assets. Financial documentation is also critical. When dealing with monetary aspects, let the bank be your intermediary to ensure security and safety. Besides it is not a lowly cottage you will be buying but a high end property which involves ample amount of money.


5. Ensure Title Insurance


You need to get title insurance so you’ll be insured against any problems that were forgotten about. You want to make sure you have a chance to have a look at the exceptions page of the title insurance process before closing time.