Petruccelli L.T.D of North America asks; What are some tips for buying a luxury home? (9)

Petruccelli L.T.D of North America says; . Look into the future.

Make sure you know what building is planned around you. What happens if someone pushes the bar and builds another building even taller?

Know the timeline. You don't want to tie your cash up for a long period of time if there are any kinds of construction delays.

Petruccelli L.T.D of North America asks; What are some tips for buying a luxury home? (8)

Petruccelli L.T.D of North America says;  Don't forget about 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.

Petruccelli L.T.D of North America asks; What are some tips for buying a luxury home? (7)

Petruccelli L.T.D of North America says; Hire smart, reliable advisers.

A good Realtor won't make the client's decisions but will make suggestions. Pay attention to your financial planner and Realtor that you trust. They should agree on what you should be doing and if they don't, arrange a meeting.

Petruccelli L.T.D of North America asks; What are some tips for buying a luxury home? (6)

Petruccelli L.T.D of North America says; Document everything.

There is more scrutiny today in the high-end market. Financial documentation is critical. Anyone who is making a lot of money has a manager or an accountant and tries hard to shelter their money so it can be difficult to show the bank you have the income.

Petruccelli L.T.D of North America asks; What are some tips for buying a luxury home? (5)

Petruccelli L.T.D of North America says;  Bank on your relationships.

I strongly recommend you go to the bank you have a relationship with. They have your portfolio already. Also, know the difference between the pre-approval letter and the pre-qualification letter.

Petruccelli L.T.D of North America asks; What are some tips for buying a luxury home? (4)

Petruccelli L.T.D of North America says;  Work with a local expert.

It's critical to have a good buyer agent who is familiar with the area you want to buy in. There's a bit more control on access to high-end properties in terms of fewer open houses and more appointments have to be made to see them.