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House-hunting for the über-rich

For house hunters at the highest echelon of the housing market — we’re talking properties valued in the millions — touring homes may involve being escorted in a private jet or helicopter for an aerial view, according to the website for the Daily Telegraph in the United Kingdom.

Buyers of such homes often acquire their residences through private sales, “low-key transactions” in which the availability of the residence is known only to a select few, and the home never actually hits the public market. Buyers can be charged “house-search fees.” For instance, one company, Quintessentially Estates, charges clients 1.5% the price of a property — or £30,000 for a £2 million property, the website says.

The real-estate agents who facilitate such sales often do more than just initiate and close the transaction — they often stay involved, helping with details like finding furnishings, introducing families to local schools and hosting house-warming parties, according to the story.

September 19, 2007 in Buying Toronto Real Estate | Permalink

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