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Buyer's Guide

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A Step-by-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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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.

Browse Properties
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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.

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Step 3: Get Prequalified

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.

Get Pre-Qualified
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Step 4: Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have a knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Schedule A Consultation
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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.

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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.

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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.

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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.

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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.

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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.

Congratulations!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.

WHAT OUR CLIENTS SAY

I've been working with Kyle and his team for over a year. They are very professional and enthusiastic about MKE and the surrounding area. I highly recommend working with them. Real experts and good experience.

— Deen

WHAT OUR CLIENTS SAY

My wife and I recently bought a house from Kyle, and we couldn't be happier with the experience. From start to finish, Kyle was professional, knowledgeable, and incredibly helpful. He took the time to learn our wants and needs and didn't waste our time with houses we didn't want. This attention to detail made the entire process so much smoother. Kyle has such a wealth of knowledge about the local market,...

— Cody

WHAT OUR CLIENTS SAY

Working with Kyle Ristow has been an absolute pleasure. Kyle's dedication to his clients and his deep understanding of the real estate market truly sets him apart. His work ethic is unparalleled, and he consistently goes above and beyond to ensure that every aspect of the real estate process is handled with precision and care. Kyle's wealth of real estate knowledge is evident in his expert guidance and i...

— Jonathan

WHAT OUR CLIENTS SAY

I've really enjoyed getting to know Kyle. From the outset, Kyle has shown an unwavering commitment to understanding and supporting my real estate ambitions. Whether it's making an investment in rental property or moving to a new home, their genuine care for other's goals is evident. I strongly recommend him to anyone.

— Ryan

WHAT OUR CLIENTS SAY

Kyle is exactly the kind of person you want working for you. Honest, caring, and personable. Your time with him will be enjoyable. You can be certain Kyle will do all that he can to meet your needs.

— Jason

WHAT OUR CLIENTS SAY

Hailey Ristow was absolutely amazing to work with! As a first-time homebuyer, I had so many questions and concerns, but Hailey made the entire process seamless and stress-free. She was knowledgeable, patient, and always available to answer my questions. Her expertise and dedication helped me find the perfect home, and I couldn’t be happier. If you’re looking for a real estate agent who truly cares about ...

— Saxton

WHAT OUR CLIENTS SAY

I find Hailey Ristow to be very knowledgeable and professional. She strives to meet the needs of her clients and is a pleasure to work with! I believe she will have a long and successful career in real estate!

— Linda

WHAT OUR CLIENTS SAY

An up and comer in the real estate market, Hailey Ristow will see that all the i’s are dotted, and t’s crossed to make sure your home buying or selling experience is a success. Buy or sell with confidence using Hailey Ristow.

— Jim

WHAT OUR CLIENTS SAY

We have nothing but great things to say about our experience working with Kyle. We were nervous about beginning the homebuyers process for the first time, and Kyle made it easy by explaining the process and options in ways we could understand. He was open and honest about sharing his wide range of knowledge regarding homes. This was super helpful for us to know what to look for. For communication, Kyle w...

— Hannah

WHAT OUR CLIENTS SAY

Hands down could not have asked for a better buying experience. As first-time home buyers, we couldn't have been happier! 1) Communication - quick responder and comfortable via text, email, or phone. Each have their uses, and he used them all very well and professionally. 2) Knowledge - Our favorite aspect of Kyle was his home knowledge. He treated home showings as a pre-inspection where he would comment...

— Jacob

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(414) 426-9964

8909 N PORT WASHINGTON RD MILWAUKEE WI 53217