Submit a Reasonable Offer to Purchase a California Luxury Home

by Lili Patch 04/17/2019

After you find your ideal luxury home in Los Angeles, Malibu or elsewhere in California, you should be prepared to submit a reasonable offer to purchase this house. Otherwise, you risk losing your dream home to a rival homebuyer.

Ultimately, there are several factors to consider as you try to craft a competitive offer to purchase a California luxury house. These factors include:

1. The Local Housing Market

Purchasing a California luxury home in a buyer's market is far different from buying a Golden State luxury house in a seller's market. However, if you can differentiate a buyer's market from a seller's market, you can submit an offer to purchase a California luxury home that falls in line with the current state of the housing sector.

In a buyer's market, there may be an abundance of luxury homes available in Beverly Hills, Cupertino and other California cities and towns. Or, in a seller's market, the top Golden State luxury homes likely sell as soon as they become available.

To differentiate a buyer's market from a seller's market, examine the prices of recently sold luxury houses in the California city or town where you want to reside. You also should find out how long these houses were available before they sold. If luxury homes linger on the real estate market for many weeks or months, a buyer's market may be in place. On the other hand, if you discover luxury houses are selling quickly, the housing sector may favor sellers.

2. Your Finances

With a budget in hand, you could streamline your quest to find your dream home in Sacramento, San Diego or another California city or town.

Banks provide a variety of jumbo mortgage options to ensure you can enter the Golden State luxury housing market with home financing at your disposal. To get pre-approved for a jumbo mortgage, it may be beneficial to discuss your home financing options with myriad banks. Then, you can select a jumbo mortgage that suits you perfectly. And if you find your ideal California luxury home, you can instantly submit a competitive offer to purchase this residence.

3. Your Expectations

It is crucial to establish realistic expectations as you search for your ideal California luxury house. If you plan ahead for the homebuying journey, you can boost the likelihood of finding a Golden State luxury home that will serve you well for years to come. Plus, you will know precisely how much you can afford to spend to acquire this house.

As you embark on the California luxury homebuying journey, you may want to hire a real estate agent, too. This housing market professional will make it easy for you to find the right Golden State luxury home at the right price. And if you are unsure about how much to offer for a California luxury house, a real estate agent will help you craft a competitive homebuying proposal.

Review the aforementioned factors closely, and you should have no trouble putting together a reasonable offer to purchase your ideal California luxury house.

About the Author
Author

Lili Patch

Radio Personality turned Realtor; I welcome the opportunity to turn house selling and house hunting into a fun and educated experience. House buying should feel like you're shopping with a friend, and I will keep you in the loop the entire time so you will not be wondering what you just signed or what happens next. It's that seamless, and we may even have lunch or dinner. I do this because when I started my real estate journey on the east coast, buying my first condo at the age of 18, I was clueless. I wished I had someone who had made that a stress free transaction- but it wasn't, and thats how I got the Real Estate bug. Let's take a step back first though to my first "job", I studied communications and entered the broadcasting industry. Through the years I purchased some more properties, and felt there was a gap that needed to be filled in the Real Estate profession. I set the bar very high on skill set & customer service. I have Real Estate Licenses in 4 states, which means I have more education, and training than most agents. My level of knowledge, strategy and experience is what sets me apart. I know how important being an astute negotiator is, being relentless, and answering the phone when it rings. I have earned certifications as a Seller Representative Specialist (SRS), a Certified Home Marketing specialist (CHMS), and a Pricing Strategy Advisor (PSA).

Meeting with people and traveling both east coast and west coast has given me a broad appreciation of the different laws, protections, and scenario's you encounter in real estate. Having the benefit of my communication background coupled with the vast knowledge of multi-state experience has been the backbone of my success.