Step 1: Getting Started


Meet the Team

Find a Realtor you can Trust
The Ten Commandments of Mortgage Financing
Mortgage Pre-Approval
Select Properties that fit Financing and Personal Criteria
View Properties


MEET THE TEAM


Amanda Addington
ASSOCIATE BROKER
Amanda possesses 18+ years of experience in the residential development/real estate industry and holds a Bachelor of Science degree in Business Management. She has been a licensed Realtor since 2009 and has grown her business each year. In 2017 she obtained her Associate Broker’s license and in 2018 joined eXp Realty. She prides herself on her ability to develop efficient business processes and procedures, the ability to build strong interpersonal relationships and maintain a high degree of professionalism.


Jessica Case
TRANSACTION COORDINATOR
Jessica is the office manager for Amanda Addington a role which she began in June 2015. She has lived in Frederick her whole life and is currently married with two children. She obtained an Associate Degree from FCC has held her Maryland real estate license since  December 2015. She manages the inner workings of the office, transactions and client management.


Kourtney Roman
MARKETING COORDINATOR
Kourtney is the marketing coordinator for Amanda Addington. She joined Amanda Addington in May 2019. She is originally from Frederick County and graduated from Middle Tennessee State University with a degree in Electronic Media Production. She manages all aspects of marketing from staging and photographing houses to promoting Amanda’s business online and at networking events.

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FINDING A REALTOR YOU CAN TRUST

It is to your benefit to find and use one agent to represent you when buying a home. The agreement you sign with an agent in this capacity is a Buyers’ Agency Agreement. When you sign you agree to use only that agent’s services and to pay a fee for those services.

Typically, the commissions paid to the Buyer’s Agent are paid for by the seller. The agent agrees to use their experience and training to find you a home that fits your needs within the budget that you qualify and are comfortable. Your Buyers’ Agent will be able to help you with and show you any actively listed homes on the market, new construction homes and homes for sale by owner. A Buyer’s Agent must be a licensed real estate agent, but not all real estate licensees are Realtors.

Buying a home is a big deal. Why trust this to someone that you don’t feel will represent your best interests? A Realtor is a professional who adheres to a Code of Ethics that extends above and beyond the law. As a licensed Realtor, along with my staff, I am qualified to guide you in buying or selling a home. We believe in using our collective skills in property showings, contracts, negotiations and marketing to your best advantage. It is important that you work with someone you trust and feel is a market expert with integrity. My clients trust me with their most valuable asset. It is a responsibility that we take very seriously.

We know that YOUR success is our success.


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MORTGAGE PRE-APPROVAL

The first step in purchasing a home is to apply for a loan and obtain approval before finding the home you want to buy. Why?

1. You can select the best loan terms, learn about assistance programs and get to know your loan officer without being under pressure.

2. You will learn what your payment will be on offers you choose to make and how much money you will need for down payment and closing costs.

3. You won’t waste time considering homes you cannot afford.

4. You will be prepared to make an offer immediately upon finding the right home and will not risk losing it to another buyer while you are obtaining mortgage approval.

HOW MUCH MONEY DO I NEED? Upfront costs, earnest money deposit, appraisal and inspections

Down Payment Requirements: Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan. If you are able to come up with a 20-25% down payment, you may be eligible to eliminate mortgage insurance.

Closing Costs: You will be required to pay fees for obtaining a loan, taxes, survey, inspections, preparing the deed, agency representation and the other services required to purchase a home. These fees, collectively called closing costs, must be paid in full at the final settlement. Typically, closing costs will range between 2-5% of your mortgage loan.

QUALIFYING FOR A MORTGAGE:

Most lenders require that your monthly mortgage payment range between 25-28% of your gross monthly income. Your mortgage payment to the lender includes the following items:

• The principal on the loan (P)

• The interest on the loan (I)

• Property taxes (T)

• The homeowner’s insurance (I)

Your total monthly PITI and all other debts should range between 33-38% of your gross monthly income. These key factors determine your ability to secure a home loan: credit report, assets, income, and property value.

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THE TEN COMMANDMENTS OF MORTGAGE FINANCING

 1. Thou shalt not change jobs, become self-employed or quit your job.
 2. Thou shalt not buy any automobile (or you may be living in it).
 3. Thou shalt not use charge cards excessively or let your accounts fall behind.
 4. Thou shalt not spend money you have set aside for closing.
 5. Thou shalt not omit debts or liabilities from your loan application.
 6. Thou shalt not buy furniture or appliances.
 7. Thou shalt not apply for new credit or check your own credit score.
 8. Thou shalt not make large deposits without first checking with your loan officer.
 9. Thou shalt not change bank accounts.
10. Thou shalt not co-sign a loan for anyone.

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SELECTING THE PROPERTY

There are many factors to consider when selecting a home that is right for you.

STAY WITHIN YOUR BUDGET

There is a reason that you just achieved pre-approval for a mortgage. If you know you qualify for a $250,000 home and it fits within you budget, it does not make sense to search for homes above a list price of $250,000. Homes listed at a higher price are typically going to be larger homes and have more updates, amenities and features. You will be disappointed to find that the seller is not willing to sell you the home within your budget so why start down this path?

FOCUS ON WHAT YOU CAN CHANGE

It is difficult to change the location of a home, the overall floor plan and the structure without significant cost to you. It is not as difficult to change the cosmetic features such as flooring, appliances and paint colors. Focus on obtaining the features that you will not be able to  later change.

SCOUT THE NEIGHBORHOOD

It is important that you scout the neighborhood in person.

• Talk to people who live there.
• Drive through the entire area at different times of the day, during the week and on weekends.
• Look carefully at how well other homes in the area are being maintained; are they painted, are the yards well cared for; are parked cars in good condition, etc.
• Look for things like access to major thoroughfares, highways, and shopping.
• Listen for noise created by commerce, roads, railways, public areas, schools, etc.
• Smell the air for adjacent commerce or agriculture.
• Check with local civic, police, fire, and school officials to learn information.
• Research things like soil and water.
• Look at traffic patterns around the area during different times of the day and drive from the area to work.
• Find out if the neighborhood is near parks, churches, recreation centers, shopping, theaters, restaurants, public transportation, schools, etc.
• Find out if the neighborhood belongs to a Homeowner’s Association.

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VIEW PROPERTIES


Once you have selected properties that you think may be a good fit, you will let me know. I 
am required to make appointments for showings, so allow 2-3 days in advance of showing appointments. Often sellers are still living in the home. Therefore, it is important to be on time for your showing appointments and to see the home during your scheduled time.

While you are viewing the home, I will point out attributes that are important in making your decision. These include: the age of the home, if the home belongs to a Homeowners’ Association, if the home has public access to water and sewer, the property boundaries if known and the like.

Take notes! It will help you to remember the details and characteristics of the homes that you see. Write down what you do like and what you don’t like. If you are not interested in a home, cross it off the list immediately and write the reason why so that you don’t waste any additional time considering that home.

Next Step: DURING THE TRANSACTION