Luxury Home BargainsNovember 18, 2010
Purchasing a multi-million dollar home for a reduced price is a little more complicated than buying ordinary real estate, so it’s essential to work with a luxury home specialist who knows the market intimately and can help you find the perfect home at a great price. One way to locate a luxury home bargain is to start with properties that have been sitting on the market for awhile.
While it’s normal for highend homes to take longer to sell than median priced homes, sellers are just as motivated to make a sale quickly. The longer a property takes to sell, the more likely the seller will be willing lower the price. If there is more debt on the home than it is worth, your REALTOR® may be able to negotiate a short sale with the seller’s lender for aignificantly reduced price.
If you are willing to remodel, you can find some phenomenal deals with an “as is” home. Just be sure to get a home inspection to verify that there aren’t any major structural flaws that could cause you problems in the future. When looking for a luxury home bargain, your REALTOR ® will be your best advantage toward making a successful purchase for the best price.