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Multi Million Dollar Estates In San Diego

Ask anyone what makes purchasing multiproperties with comparable price tags for
million dollar estates different from buyingappraisal purposes, the other common concern
any other house, and invariably he or sherelated to appraisals of homes priced above
will reply, "money." Greater sums raise the$1 million dollars is the appraiser's lack of
stakes and the stress level. Add to that aexperience with luxury properties. An
limited inventory of luxury homes in any oneappraiser who works in this price range will
market, buyers and sellers with fewerunderstand what is and isn't comparable, just
incentives to compromise, intense competitionas they are better prepared to value features
for upscale property and multiple offers inand finishes in the subject
hot markets. Clearly, high-end buyers need toproperty.Interesting Tidbits:In a 2003 study
know what they want, what features aremade by The Institute for Luxury Homes
important, and the fair market value of theMarketing and Unique Homes magazine polling
homes in question.Who is Involved:The most4000 affluent households, a general profile
notable difference between a transaction forof a luxury homeowner was produced.The owner
a home that is less than $1 million and oneof homes valued at $2.5 million or above is
that is above $10 million, other than themarried
price, is the number of people involved. In
transactions involving multi million dollarUnder  age  55
estates, there is a team approach, with the
real estate agent working for a businessWorks as a top corporate executive, business
manager in addition to the client and his orowner,  or  self  employed  professional
her attorney.Another factor to consider with
the high-end purchases is that a majority ofMakes  a  million  dollars  or more annually
buyers of multi million dollar estates do not
use conventional financing. While cashIs  "new"  money
transactions can speed up the transaction,
they can also result in a shorter period ofOwns  multiple  residences
time for completing conditions of the
purchase and sale agreement. This could be aPlays  golf
problem, since a home inspection for an
estate home with multiple buildings,Volunteers  for  charity
mechanical systems, kitchens and baths can
take days or even more than a week toHas  broadband  Internet  access  at  home
complete.Potential Snags:Luxury buyers also
frequently purchase larger pieces of land,Feels his home is a reflection of his
which bring an additional set of potentialsuccessThe study also showed:89% live in a
problems. Often an easement, whether it issingle  family  home
deeded or grandfathered, doesn't come to the
buyer's attention until it is discovered78%  have  four  or  more  bedrooms
during a title search. Easements are only one
of many land issues that can slow a closing.92%  have  four  or  more  bathrooms
But, if a buyer knows about an easement ahead
of time, it is less likely to become a deal84%  have  a  home  office
breaker. The best insurance for a smooth
closing is having an agent who is59% have a home gymNew construction
knowledgeable about land issues and the typecategorized 26% of the homes while 18% were
of property being purchased.Purchases that"custom built for me" and "historic property"
are being mortgaged will be subject to andescribed 8% of the homes.Inside San Diego
appraisal. For multi million dollar estates,Real Estate is a network entirely devoted to
good agents, particularly those working withreal estate information. The entire Inside
a buyer under a buyer agency agreement, willReal Estate network has more than 100,000
recommend an independent appraisal. Inpages of real estate for cities allover the
addition to a limited number of soldUnited States.



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