It is important to remember that luxury homes in South Florida are expensive because they are luxury homes.
To get your dream home, you’ll likely have to offer more than the asking prices and incur additional closing costs. Luxury real estate sales are increasing and luxury homes selling quicker, so you need to be knowledgeable about how to make sure your deal is done right.
These are five tips that will help you secure the best possible position for your luxury home purchase.
- Be attentive during negotiations: It is important to not be timid or afraid to speak up during negotiations. This could cost you money and reduce your chances of securing the property. Although luxury real estate properties are not often reduced, it is possible to get the home you want. Luxury homes are almost always purchased by cash buyers, or people with high net worths and who have very limited financial flexibility.
- Offer more that the asking price: This applies especially if you’re looking at luxury condos. You can consult a luxury real estate lawyer to help you determine the best price to offer. As you can negotiate later, it is better to be higher than lower.
- Cover your luxury real-estate closing costs: Luxury condominium sellers expect to pay the luxury sales tax and legal fees. You can recover some or all these luxury closing costs by making an offer that includes them in the purchase price. If the seller does not expect them, or they are not included in your terms package, you should be ready to pay extra luxury closing costs.
- Make sure you have a solid contract. The only way to get out of a luxury property purchase is if you lose your job or are hospitalized. Even then, it is unlikely. You should also remember that luxury realty contracts can be negotiated. You can lose luxury homes if you don’t have an expert luxury contract negotiator who is familiar with the entire luxury home buying process.
- Professional luxury home buying advice: This is vital. While luxury real estate agents are more likely to be supportive of luxury home purchases than luxury buyers, luxury buyers require assistance from specialists who can quickly get deals done to maximize their negotiation power and receive all the incentives that come with luxury closing costs and offering over asking prices.
This post was written by Josh Dotoli! Josh is the owner of Josh Dotoli Group which is a laser-focused real estate team at Compass comprised of industry experts selling Fort Lauderdale’s best neighborhoods. This dynamic group is one of the top-selling real estate teams in South Florida with over $94 million in sales in the past 12 months alone. Looking for Harbor Beach Fort Lauderdale homes for sale we are the real estate team for you!