| Ask anyone what makes purchasing multi
| |
| | purchased.Purchases that are being
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| million dollar estates different from
| |
| | mortgaged will be subject to an
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| buying any other house, and invariably he
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| | appraisal. For multi million dollar
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| or she will reply, "money." Greater sums
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| | estates, good agents, particularly those
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| raise the stakes and the stress level.
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| | working with a buyer under a buyer agency
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| Add to that a limited inventory of luxury
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| | agreement, will recommend an independent
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| homes in any one market, buyers and
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| | appraisal. In addition to a limited
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| sellers with fewer incentives to
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| | number of sold properties with comparable
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| compromise, intense competition for
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| | price tags for appraisal purposes, the
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| upscale property and multiple offers in
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| | other common concern related to
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| hot markets. Clearly, high-end buyers
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| | appraisals of homes priced above $1
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| need to know what they want, what
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| | million dollars is the appraiser's lack
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| features are important, and the fair
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| | of experience with luxury properties. An
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| market value of the homes in question.Who
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| | appraiser who works in this price range
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| is Involved:The most notable difference
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| | will understand what is and isn't
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| between a transaction for a home that is
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| | comparable, just as they are better
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| less than $1 million and one that is
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| | prepared to value features and finishes
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| above $10 million, other than the price,
| |
| | in the subject property.Interesting
|
| is the number of people involved. In
| |
| | Tidbits:In a 2003 study made by The
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| transactions involving multi million
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| | Institute for Luxury Homes Marketing and
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| dollar estates, there is a team approach,
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| | Unique Homes magazine polling 4000
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| with the real estate agent working for a
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| | affluent households, a general profile of
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| business manager in addition to the
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| | a luxury homeowner was produced.The owner
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| client and his or her attorney.Another
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| | of homes valued at $2.5 million or above
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| factor to consider with the high-end
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| | is married
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| purchases is that a majority of buyers of
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| | Under age 55
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| multi million dollar estates do not use
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| | Works as a top corporate executive,
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| conventional financing. While cash
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| | business owner, or self employed
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| transactions can speed up the
| |
| | professional
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| transaction, they can also result in a
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| | Makes a million dollars or more annually
|
| shorter period of time for completing
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| | Is "new" money
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| conditions of the purchase and sale
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| | Owns multiple residences
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| agreement. This could be a problem, since
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| | Plays golf
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| a home inspection for an estate home with
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| | Volunteers for charity
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| multiple buildings, mechanical systems,
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| | Has broadband Internet access at home
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| kitchens and baths can take days or even
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| | Feels his home is a reflection of his
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| more than a week to complete.Potential
| |
| | successThe study also showed:89% live in
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| Snags:Luxury buyers also frequently
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| | a single family home
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| purchase larger pieces of land, which
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| | 78% have four or more bedrooms
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| bring an additional set of potential
| |
| | 92% have four or more bathrooms
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| problems. Often an easement, whether it
| |
| | 84% have a home office
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| is deeded or grandfathered, doesn't come
| |
| | 59% have a home gymNew construction
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| to the buyer's attention until it is
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| | categorized 26% of the homes while 18%
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| discovered during a title search.
| |
| | were "custom built for me" and "historic
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| Easements are only one of many land
| |
| | property" described 8% of the
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| issues that can slow a closing. But, if a
| |
| | homes.Inside San Diego Real Estate is a
|
| buyer knows about an easement ahead of
| |
| | network entirely devoted to real estate
|
| time, it is less likely to become a deal
| |
| | information. The entire Inside Real
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| breaker. The best insurance for a smooth
| |
| | Estate network has more than 100,000
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| closing is having an agent who is
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| | pages of real estate for cities allover
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| knowledgeable about land issues and the
| |
| | the United States.
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| type of property being
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| |
|
