How to Buy Luxury Portland Oregon Real Estate
PORTLAND, Ore. – So you’re thinking about buying Luxury Portland Oregon Real Estate before the end of the fiscal year, this makes sense especially since mortgage interest rates are still so low right now but, how do you go about buying luxury Real Estate if you’ve never bought a luxury home before?
In this post we will share with you several tips for buying a Luxury Home in Portland Oregon.
Financing a Luxury Portland Oregon Home Purchase
When buying a luxury Portland Oregon Home you will be required to have a come up with a down payment of 31 percent and since the loan approval process can take 60 days or longer it’s best to meet with your lender with all of your financial documentation including the following:
- Proof of cash reserves
- Tax Revenue
- Your tax assets
- Employment verification or proof of business
Let’s say that you own over 25 percent of a company, in this instance you will be asked to provide additional documentation including your 1120’s. K-1’s and profit/loss statement.
Don’t Rush It
When buying a luxury home in Portland Oregon its best to take your time since several inspectors will be needed to inspect the home and this could take up to 10 hours or longer, especially if you are paying in cash, you should take as long as you need so you feel 100% comfortable with your home purchase.
Hire a Portland Oregon Real Estate Agent
At Nieland homes we’re experts at all things Portland Oregon Real Estate, including luxury homes, contact us today to learn more how we can help you by calling us at (503) 636-7700 or CLICK HERE to connect with us though our website.