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Miami is host to several Miami luxury condos. Downtown Miami is teeming with residential towers that offer exceptional levels of luxury and comfort. And if you’re considering a new construction condominium, be sure you know just how to deal with such a purchase. To help you in this kind of enterprise, here is the nitty-gritty you should consider doing.

1. Use an agent 

Miami luxury condos are unlike other purchases; much more a new construction condo. So to ensure that everything will go swimmingly, consider hiring an agent that specializes in this kind of market. 

2. Learn how to negotiate 

Negotiating with a builder is an important part of buying up-and-coming Miami luxury condos. Many are less keen on dropping their prices, but being a buyer’s market, you can opt-in to some incentives. And when everything is settled, have them in writing to seal the deal. 

3. Keep your options open 

Upgrades are always available with these properties. If you think you can save money through add-ons, consider paying for them. But be wary of expensive items that are offered à la carte; they might cause you to spend more than you ought. 

4. Find out the builder’s reputation 

Get some brass tacks knowledge on the work history of your builder. Aside from regular visits to check up on the progress of your condo, do your own homework and learn more about how your builder handled their projects in the past. Keep your eye peeled from complaints and accolades. 

5. Consider a guarantee and warranty 

Always ask for a guarantee in terms of the time your condo will be finished. This ensures that it will be done once the guaranteed time comes and offers compensation if not. Similarly, know what is covered in the warranty and how long it will last. 

6. Don’t forget the inspection 

Buying this type of property is quite similar to traditional real estate purchases in which you still have to conduct a home inspection. To confirm the quality of the property and, most importantly, to avoid ending up with a lemon, hire your own inspector after the condominium is done. 

7. Choose a lender 

Builders of Miami luxury condos often offer their affiliate lender. Don’t choose their lender, as much as possible, since doing so can sometimes cause conflicts of interest. The lender you choose should be a neutral third party who will offer the best mortgage option for you and not the builder. 

Mark Michael Ferrer 
Miami Luxury Condos

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Article Source: ArticlesBase.com – Seven Basic How-to’s of Buying Miami Luxury Condos

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