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VIP PARK CITY NEWSLETTER
Buying a luxury property in Park City is a big decision and it should feel that way.
Whether this is your first ski home, your third investment property, or a long-overdue upgrade to the lifestyle you've been working toward the process deserves more than a generic checklist.
I've spent nearly eight years guiding high-net-worth buyers through one of the most competitive luxury markets in the country. The inventory moves fast, the nuances matter, and who you have in your corner makes a real difference.
This guide walks you through what to expect from initial strategy to closing day so you can move confidently when the right property shows up. And in this market, when it shows up, you need to be ready.
No fluff. Just the real process, from someone who knows this market inside and out.
Step 1: Research
Step 1: Research
Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.
Step 2: Decide on Your Budget
Step 2: Decide on Your Budget
Notice we said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.
Step 3: Get Pre- Approved
Step 3: Get Pre- Approved
Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.
Step 4: Choose a Real Estate Agent
Step 4: Choose a Real Estate Agent
Can you shop for, tour, and even make an offer on a home without a real estate agent? Technically, yes. But the better question is… why would you want to do it alone? A good agent takes a significant amount of stress off your shoulders and helps you avoid costly mistakes along the way. We help you identify the right properties, coordinate showings, and guide you through the offer and negotiation process from start to finish. More importantly, we bring market knowledge, strategy, and experience that most buyers simply don’t have. Finding the right home can feel overwhelming. That’s where having an expert in your corner makes all the difference. Let me help you navigate the process, protect your interests, and find the home that truly fits your goals.
Step 5: Find the Right Home
Step 5: Find the Right Home
This should be the most enjoyable step of the entire process (other than moving in!). We will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.
Step 6: Make an Offer
Step 6: Make an Offer
Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. We will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.
Step 7: Have the Home Inspected
Step 7: Have the Home Inspected
In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. We can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.
Step 8: Select Your Loan
Step 8: Select Your Loan
Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.
Step 9: Get a Home Appraisal
Step 9: Get a Home Appraisal
Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.
Step 10: Finish Paperwork
Step 10: Finish Paperwork
No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.
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