Buyers

1. Deciding to Buy

   Purchasing a property is a major financial decision and potentially one of the biggest of your life. It requires careful consideration—identify your reasons for buying, whether it’s to stop paying rent, to find a home that better suits your needs, or to start investing in property. Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.

2. Preparing to Buy

   Before you start shopping, take the time to get organized. All information will be required by your lender (if you are planning to finance your purchase), and it’s easier to be prepared when you find something that you love! Make a file of the following:

   • Financial statements
   • Bank accounts
   • Investments
   • Credit cards
   • Auto loans
   • Recent pay stubs
   • Tax returns for two years
   • Copies of leases for investment properties
   • 401K statements, life insurance, stocks, bonds, and mutual account information.

   It’s also helpful to check your credit rating to understand your borrowing capacity and address any issues. Avoid major financial changes, such as switching jobs or making large purchases, to ensure financial stability when seeking financing.

3. Choose a Real Estate Agent

   Buying a property requires making many important financial decisions, understanding complex issues and completing a lot of paperwork. It helps to have an expert in your corner when undertaking such a large purchase to guide you through the process, and also provide you with access to property listings before they hit the public market. Select a full-time real estate agent with experience in transactions similar to yours. Interview multiple agents to find one familiar with your desired area and available when you need them. Look for an agent with strong credentials, who responds promptly, and who listens to your needs and concerns. A good agent will provide access to property listings and guide you through the complex buying process.

4. Time to Go Shopping

   Narrowing down the areas in which you would like to shop can be tricky! I’ve created a YouTube series, Jackson Hole Insider, that breaks down each of the areas in Jackson to help buyers decide which might suit them best. Once you’ve determined the approximate areas you’d like to shop, go explore those neighborhoods and get a reel feel for the areas you’re interested in! With the help of your agent, you can narrow your search to a few properties and schedule viewings. When you find a property you like, your agent can help you make a competitive offer and negotiate favorable terms that meet your needs while positioning you as a competitive buyer.

5. Escrow, Inspections & Appraisals

   After your offer is accepted, your agent will continue to manage all of the details. From working alongside you with your lender for appraisal, managing inspections, helping to resolve any contingencies, and coordinating all closing related items, your agent is critical in keeping this process on track and adhering to all timelines. The best advice during this time is to stay organized and provide copies of all documentation to your agent to help keep this process streamlined.

6. Moving In

   Before closing, your agent will conduct a final walk-through to ensure the property is in the agreed upon condition. They will also advise and provide references for setting up home utilities in advance of closing, so you are ready to move in as soon as closing day comes. During the closing, your agent will accompany you to review and sign all necessary documents, transfer funds, and receive the property keys. And most importantly, it’s time to celebrate!

Looking for more information on the area and the Keller Williams process to buy? Read our Buyer’s Guide below or contact me for more information.