Consider your comfortable budget, debt and amount of money that you have on hand for a down payment. A lender will still need to qualify you for a loan, but you should also make this determination based on your own level of comfort as well considering your lifestyle.

If you are not paying cash, before you officially start your active home search in the Jackson Hole area, you will need to explore how much you can spend. I also suggest doing this before writing an offer, especially in a competitive market where multiple offers are commonplace.

The best way to go about this is to get prequalified for a mortgage by contacting a reputable mortgage broker and provide some of your personal information and details. Your lender will then tell you how much you will be approved for which will dictate what price range of homes we can look at together. It is important to provide your lender with accurate data for the pre-approval as you will have to eventually follow up with supporting documents.

Once we begin touring real estate around Jackson Hole together, be sure to take notes as you may see many houses. Consider things like convenience to local services, work and other things that address your lifestyle and needs. Once you find the property of interest, then we will submit your offer with your pre-approval letter.

Assuming your offer gets accepted by a seller, a home inspection is the next step. This is a pivotal milestone as it can check for signs of structural damage or items that may need repair. Offers are typically made contingent of a satisfactory home inspection to protect the buyer. Inspections can result in requests for repairs, credits off of the purchase price, or it gives you an option to walk away. Any items that shall be addressed by the seller can be confirmed before the closing at the walk-through.

The title review period typically falls within the inspection period. This time is used to review the title commitment provided by a title company, which would reveal any bad liens against the property or access issues. This also provides all of the CCR’s and easements to verify that you are okay with the legal condition of the property.

Even if you are paying cash, having an appraisal is not a bad idea and I can link you up with a handful of qualified appraisers. If you are getting a mortgage, your lender will arrange for the property to have an appraisal. The appraisal value will confirm to all parties that the price you are paying is a fair price for the property. If the appraisal comes in lower then the purchase price, you can walk away or renegotiate the price.

Your lender will have a title company review documents and confirm that the seller is the rightful owner of the house. Also, you will need to complete your loan package by providing your lender with documentation that proves your employment and financial status. If you are paying cash, the paperwork is much more straightforward, but you should still be prepared to sign closing documents.

After your final walk-through of the property, you will then have the closing. At the closing you will sign all legal documents to complete the purchase including loan paperwork. Once this is complete and the check is delivered to the seller, you are ready to move into your new home.