Luxury property London with comparethefinancialmarkets.com
Finding suitable luxury property in London can be an exhausting process, whether it’s a penthouse, apartment, or house in Belgravia, Chelsea, Mayfair, Knightsbridge, Regent’s Park, South Kensington, Notting Hill, St. John’s Wood, Primrose Hill or Hampstead. Securing your luxury property in London isn’t straightforward, even if you have millions to spare!
At comparethefinancialmarkets.com we understand the idiosyncrasies involved with a luxury property purchase so we’ve compiled some essential tips for you.
Luxury property London – research your estate agent
First, research your desired area. This doesn’t mean drive around, discovering the good shops! You’ll need to explore the neighbourhood; get a feel for the place by talking to residents and business owners. Find statistics on luxury property in London, average property prices, taxes, etc. Study average weather conditions, local crime figures, transportation options, local government etc. Become an expert on the area before purchasing luxury real estate there.
Luxury property London – check the luxury property agent’s background
Next, look into the background of the luxury property agent who is handling your sale. Inquire about their standing within the local business community, including any estate agency associations. Luxury property in London is a complex and diverse market so don’t be afraid of asking tricky questions.
Luxury property London – know the luxury property history
Research the potential home’s history. Records can be obtained from government housing/property offices, including when and how often the property has been sold, whether there has been any major incidents involving the property, etc. This research is vital to avoid long-term problems after a luxury property sale in London.
Luxury property London – use your lawyer
Request that your lawyer closely examines the terms and conditions in the luxury property contract. Neglecting to notice any special amendments could nullify any liability on the part of the previous owner and result in a bigger financial burden than you anticipated. Purchasing luxury property in London should be an occasion for celebration, but failure to research the process thoroughly could result in a financial burden that may last for years.