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Massachusetts Luxury Real Estate Buying Advice

Buying luxury real estate is somewhat different from lower end real estate. The negotiation, property inspection, and loan approval process can be more lengthy and require more attention. Your first step should be finding a real estate agent to assist you in the process. Below you will find some Massachusetts luxury real estate buying advice.

Hiring an Agent and Making Bids

Calculating market value and negotiating luxury real estate prices require experience with the luxury home market. Luxury properties also feature amenities not typically found in lower priced real estate, thus not all real estate agents will be familiar with the value assigned to them. Selecting a good real estate agent who is familiar with luxury real estate is imperative for price negotiations as well as other essential steps in the luxury home buying process.

Importance of Inspections

Inspection of luxury homes can demand specialized skills and lengthy time frames. Luxury homes may include custom features and systems that not every inspector is familiar with. If you can not find a home inspector qualified to evaluate such features, ask your Realtor for a recommendation. Also permit sufficient time during the inspection, especially when buying large estates. Inspections are a way to evaluate the condition of real estate you are investing in. It is important not to skip or rush through this informative step.

Financing a Luxury Property

Most luxury real estate is acquired with some type of loan. Higher dollar values often require jumbo loans. These mortgages may take a little longer for approval. They can also require extra financial documentation or appraisals. Having sufficient personal financial documentation will help speed underwriting review. Despite taking longer than cash deals, most buyers needing loans can still compete with cash buyers when presenting attractive terms. Your real estate agent can help you determine the best way to present your offer in bidding scenarios.

More Massachusetts Luxury Real Estate Buying Advice

The Massachusetts luxury real estate buying advice above are merely a few important items. A real estate agent can provide more comprehensive information and support. The right agent can also ensure a smooth experience for your luxury purchase.

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About Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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