If you consider buying an ultra luxury property, would you get an appraisal??

 If you consider buying an ultra luxury property, would you get an appraisal??

If you are considering buying an Ultra Luxury Property, my advice is: Get an Independent Appraisal! Period! No other words need to be said.

As most of you know I am lucky to live in a Real Estate Market which is surrounded by many different micro markets. We have streets in Beverly Hills that command price points in the $10-$30million range. Then about ten miles south of it, we have pockets that average around $350,000 for a home.

Over the years I have found that most Foreign Nationals do their homework and are almost as familiar and in some cases more familiar than the Real Estate Community with the values, as well as the market trends.

Then once in a while I get surprised, when the buyers do not know the market or the micro markets, but are willing to offer prices for properties which we know, or better stated, it is common knowledge to the local real estate community that the property is overpriced or at best diplomatically stated:  very ambitiously priced.

How is that possible? I sit here contemplating about the answer then it comes to me. The answer is easy:  Sellers can price their property, but Listing Price does that justify the true value!

The advice we give once in a while ends up falling on deaf ears and the buyer is not getting what I consider proper representation. Why is that? What is motivating the buyer & their consultants? I do not know the answer to that question.

I am just thinking out loud:  I treat every transaction, when I represent buyers or sellers as if it was my own money on line, hence I give advice that is based on research, facts and mostly based on historical knowledge of the area as well as sometimes the history of the property, coupled with monitoring the real estate market trends.

So if you are looking for candid and straight forward advice without sugar coating, then feel free to reach out to me directly.

To summarize no matter what the price point is, if you are paying cash, please do yourself a favor and get an independent Appraisal of the property. I can assure you will be glad you listened to me.

If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com.   I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations. –