North America's Premier International Resort Community

Vail Commons Home Available for Qualified Buyer

  • 7 May 2019

Lottery applications for the resale of a home at Vail Commons are due to the Town of Vail Housing Department, 75 S. Frontage Road, by 4 p.m. Monday, May 20. The 927 square feet, two-bedroom, one and one-half bath home is located at 2094 Zermatt Lane, Unit A, in West Vail.

The lottery is open to any qualifying individual interested in purchasing the deed-restricted home for $191,820. The Valley Home Store will conduct open houses at the property from noon to 2 p.m. on May 9 and 4 to 6 p.m. on Wednesday, May 15.

Lottery applicants must meet the following basic eligibility requirements to qualify:

  • Completed and signed Resale Lottery Application Form
  • A pre-qualification letter from a mortgage lender demonstrating financial ability to purchase the employee housing unit, if selected
  • Verification of successful completion of a Town of Vail approved homebuyer education class or signed acknowledgment of intent to do so within six months of the resale lottery drawing date

The lottery drawing will take place at 5 p.m. on Wednesday, May 29 in the Vail Town Council Chambers and will be based on a true weighted lottery system. Up to five tickets will be issued to applicants based on the following:

Meet minimum lottery participation criteria = 1 lottery ticket
Vail resident = 1 lottery ticket
Vail resident for equal to or greater than 5 years = 1 lottery ticket
Employed in Vail = 1 lottery ticket
Employed in Vail for equal to or greater than 5 years = 1 lotery ticket
Maximum Total: 5 lottery tickets

 Vail Commons homes have a resale price appreciation cap of 3 percent per annum plus any approved capital improvements. See the Town of Vail Housing Guidelines July 4, 2018 for additional information.

Additional information including applications and the deed restriction are located on the town's website at https://www.vailgov.com/departments/housing/current-listings.

For additional details, contact Lynne Campbell, the town's housing coordinator, at 970-479-2150 or email lcampbell@vailgov.com.

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