How to Buy and Sell a Luxury Property

Guest blog article from Luxury Estate
Luxuryestate.com is an international online platform dedicated to sale of remarkable, high-end properties. The company is currently working on the sale of 25,000 luxury residences in 30 counties, all of which are worth over $1m. The president of the company, Silvio Pagliani, advises on buying and selling luxury homes.

How to Buy and Sell a Luxury Property

Buying or selling a luxury home is not like buying or selling any home, there are specific aspects of the process that need careful consideration to ensure the experience goes as smoothly.

Here are LuxuryEstate.com`s top tips to bear in mind when dealing with the luxury property market:

3 tips for buying a luxury property:

1. Choose a trusted agent

Once you have decided where to buy, select a local agent or broker. Many luxury homes are sold `off-market` to protect the seller`s privacy and a good agent could be the key to gaining access to these. Finding an agent with whom you have a good relationship is fundamental to ensuring a smooth – and discreet – sale that will benefit you both.

2. Don`t let first impressions be your only impression

The perfect luxury property can be hard to find, but don`t dismiss somewhere that doesn`t tick all the boxes. Some things, such as location or protected historical features, cannot be changed but alterations to suit your lifestyle can be made elsewhere. Here in particular a trusted buying agent can be particularly valuable; their local knowledge can help inform you what scope there is to make a property perfect.

3. Be prepared

When you find your dream home you need to be able to move quickly. Make sure that your finances are in order and check in advance if you need any specific documents, especially when buying abroad where the procedure may be different. There is more scrutiny in the high-end market so a pre-approval letter from you bank or accountant proving your wealth is particularly important.

3 tips for selling a luxury property:

1. Make your home immaculate

First impressions count, so make a small investment to ensure it is in perfect condition and spotlessly clean. It is often worth hiring a staging company; although the décor might not suit your personal style, they will know how to attract luxury buyers.

2. Invest in marketing

It is important to grab a prospective buyer`s attention so invest in professional photographs which make your property stand out. Increasing numbers of luxury buyers are purchasing from abroad so make sure that your home is being advertised on international websites and include detailed descriptions, floor plans and videos.

3. Consider additional incentives

Sometimes just the smallest things can convince a buyer to choose your property over another one so think carefully about any extras you could offer. Sometimes including the furnishings or artwork is enough to seal the deal.