The Experience of an Experienced Realtor

Realtor: "If you sign these documents, you get the keys to your home."

My mom: (((deep nervous sigh))) Okay.

Realtor: "Sign here...here...sign here...initial there...congratulations here are the keys to your home.

My mom: Oh, oh my God! (((look of shock))) That's it.

Realtor: Yes that's it.

My mom: Oh okay.

And BOOM! Just like that, my mom was a home owner.  She was more shocked than excited or happy.  I was only 17 had absolutely no clue as to what had just taken place as it was my first encounter with real estate.

One mantra that my mom taught me is that you don't sign anything not knowing what you're signing and here she was at the instruction of this real estate agent doing the very same thing she taught me to never do.

When I think back now being a Realtor, I now know why she was more nervous than excited.  I now understand why this process was so scary...to the point where she loss nearly 25 lbs during her home buying process from stress and nerves.  And why her reaction when handed the keys was more of shock than excitement. Simply put, she had a horrible agent. In fact, I believe the agent may have been the list agent.  See my mom had just purchased a bank-owned property using a fixer upper loan. Her rights and obligations were not explained, she was not given a synopsis of the process nor had she taken a home buyer workshop.  The realty is my mom didn't know what she didn't know.

This is unfortunately the case of many home owners. In fact, this was the case for just about every home owner I'd known growing up as a little girl. 

Remembering my mom's home buying process and hearing horror stories from home owners sent me into a tailspin while taking my pre-licensing class.  Hearing even more horror stories and experiences from my class instructor sealed the deal for me.  I was going to learn the process and put an end to the horror stories in the real estate game.

Of course my mom, my aunt and a host of other family members and friends who shared similar experiences had an impact on me and my view on the home buying process and home ownership.

Full disclosure, although I was college educated, I had no idea of the home buying process and was in no rush to purchase a home.  I didn't know it was possible for me.  I thought I had to wait a certain age to do so. Crazy, right?

The birth of my son was my motivation to think about obtaining assets such as home ownership and other investments alike.  Like my mom and others from my community, I didn't know what I didn't know.  I literally thought I had to have a 1,000+ credit (FICO) score and 1 million dollars in the bank in order to qualify to buy a home.

The first time I applied for a mortgage, unbeknownst to me, I was highly qualified...and had been for years.  Due to lack of education and good listening skills from my mom, who told me to never spend over half of my credit card(s) limit, I acquired bad credit during college and thought I would have bad credit for ever. Therefore, I buried my head in the sand and just assumed I had bad credit and simply learned to live with it.  That was, until I started reading books about investing, saving and spending money wisely.  Even having a career as a Chemist, making "good" money, paying bills on time, depositing a minimum of $100/week into my savings and paying my new credit card balance off every month for roughly 8 years, I still thought I had the same bad credit from college.

Fast forward from then to now, knowing what I know as a licensed Maryland Realtor, I can't help but to imagine there are many others who may have a similar thought process about buying a home. Whether its the importance of credit, knowing that home ownership is an option, to knowing the difference between a Realtor and a Real Estate Agent, to understanding why they should hire a Realtor, to understanding that the seller will typically pay their Realtor (not them).

I've since volunteered my time partnering with various housing agencies teaching home buyer workshops. I'm also currently serving as Vice Chair of Greater Baltimore Board of Realtors (GBBR) Equal Opportunity Committee where our goal is to educate the consumer about their rights and obligations throughout the home buying process.

If you've been curious about home ownership or would like to have a conversation about buying a home, you may call me at 443-845-1137 or e-mail me at tomekagivensrealestate@gmail.com

Tomeka Givens, Realtor®

(443) 845-1137 direct

Past client reviews

Like me on Facebook

Follow me on Instagram

Read my real estate blog series Tomeka's Two Cents 

Real estate blurbs

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Additionally, please note that the sender does not have authority to bind a party to a real estate contract via written or verbal communication.

I wanna buy a home Part 5: Settlement...what's needed?

The lender has issued a clear-to-close notice to me and the title company will confirm the bank is ready to complete your purchase. 

Your final walk through is now complete.

The final CD (or closing disclosure) will confirm the correct amount of money you need to bring to settlement.

If you are planning on wiring funds, please send the money to the title company at least 24 hours prior to settlement. Wire instructions will be issued from the title company (typically by request via email). For security purposes, I recommend that you call the title company to confirm their account details prior to sending funds.

If you are paying via check, then please have your bank issue a certified check made payable to the title company.  A personal check will not be acceptable.

Be sure to bring photo ID to settlement.  The title/closing officer or settlement attorney will review all your title, tax and loan documents. There is a lot to review and sign so please allow roughly 2 hours to complete settlement.

Tomeka Givens, Realtor®.

Join my FB Group for more good tips.  Sorry Realtors, I love you, but this group is NOT for Realtors.

Any questions? Call/Text me today! 443-845-1137

If you have any further questions, then please contact me:

Tomeka Givens, Realtor®

(443) 845-1137 direct

Past client reviews

Like me on Facebook

Follow me on Instagram

Read my real estate blog series Tomeka's Two Cents 

Real estate blurbs

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Additionally, please note that the sender does not have authority to bind a party to a real estate contract via written or verbal communication.

I wanna buy a home Part 4: I'm now under contract, what's next?

The seller has agreed to your offer, signed it and you're now under contract.  What's your next step? 

STOP looking at other homes! You are legally bound to the terms of the contract you've just signed and cannot legally make offers on other homes. 

Home Inspection:

Your next step will be to schedule your home inspection ASAP! Be sure to synchronize your availability with mine when scheduling as I make it a point to be present at my clients' home inspections.  

Note: While I have preferred home inspectors, by law, you have the right to hire any home inspector you want.

The home inspection is important as you will get to know every nook and cranny of your home. I advise you to allot about 3 hours and to dress comfortably as I'm not the agent who will have a seat while the inspection is taking place. 

I'm all up in the mix, breathing down the back of the inspector's neck, and you will be right by my side. 

This is the time to ask any and all questions about the property, so don't be shy.  

The home inspector is there to give you their professional unbiased opinion about the home.  He's going to pick on some of the areas that need repairs or replacement (if applicable), but he's also going to point out the positives about the home. 

At the end of the inspection you will pay the inspector directly per your agreement (check, cash, etc.) and you should have your report if not immediately then within 24 - 48 hours.

Between completion of the inspection and review of your report you will then decide what you would like the seller to address (i.e. repair or replace) 

Sidebar:  Understand during this process that no home is perfect...not even new construction.

Having said that, you will then decide what issues are deal breakers for you and relay this information to me.  I will then list these items/issues on a Property Inspections Notice (PIN) and submit to the list agent for the seller's review. 

The seller will have up to 5 days to respond with 1 of 4 options to your PIN: 1. agree to fix everything, 2. agree to fix some things, 3. agree to offer a credit in lieu (instead of) fixing issues or 4. not agree fix anything. 

Understand! A seller is not obligated to fix anything you request, but you are also not obligated to move forward with purchasing their home. If you and the seller can't come to an agreement on repairs, then you can have the right to sign a release of the contract and funds walk away with your EMD and your search for your home continues. 

Disclaimer: the downside to this is you do not get back the funds spent on the inspection. 

In the event you and the seller reach an agreement with repairs, you then opt to move forward with purchasing the home.

Following this, you will give your lender the green light that you are moving forward with the purchase, then they will proceed with ordering the appraisal.

Sidebar: Most lenders may require you pay for the appraisal out of pocket.  This price can range from $400 and up depending on the type of property and the area. You are welcome to ask the lender the costs ahead of time to insure you have the funds to pay when needed.

In the meantime, you will become "best friends" with your lender's Loan Processor, Underwriter and your title company's Title Processor. I highly recommend that you fulfill their requests ASAP. Remember, the sooner you give them their requested documentation, the sooner you can close. 

Your lender will require that you purchase a homeowner’s insurance policy.  You should not leave this to the last minute as you may find it beneficial to obtain a quote from various companies for the best rates.  My two cents: start with your car insurance company and see if they will offer a bundle deal. 

Contact your cable & internet providers in advance about switching the address of service and be sure to give them your date of occupation.

Contact utility, alarm company a few days before closing to plan to switch service.

Your water bill will be transferred by the title company.  It sometimes takes some time for the city to figure out that the home has a new owner.  Understand, from your settlement date and forward, you are responsible for the usage, even if the bill is still in the previous owner's name. 

You are welcome to plan with a locksmith if you opt to change your locks (highly recommended)

Around 72 hours before your settlement date, you should receive your closing disclosure (CD) from your lender via e-mail. This document breaks down every red cent within the transaction...most importantly, the amount you are required to bring to settlement. Please understand that it is not uncommon for this amount to be off.  If this is the case, call me and your lender for clarity and corrections...but sign them anyways. *  You are required to acknowledge receipt of this document by signing it.  Time is of the essence and critical at this point.  If you don't sign the CD by 11:59pm this will delay your settlement. 

Example: if you're settlement is scheduled for a Friday and you receive your CD on Tuesday evening, you MUST sign acknowledging receipt by 11:59 that Tuesday night.  Anytime later will result in your settlement being delayed to the next business day, which in this case would be Monday. 

Walkthrough:

Just before settlement, we will schedule your final walk-through.  This typically takes place either the evening before or the day of settlement.  If repairs were done, a copy of the receipts should be delivered to me before the walk-through.

Join my FB Group for more good tips.  Sorry Realtors, I love you, but this group is NOT for Realtors.

Any questions? Call/Text me today! 443-845-1137

If you have any further questions, then please contact me:

Tomeka Givens, Realtor®

(443) 845-1137 direct

Past client reviews

Like me on Facebook

Follow me on Instagram

Read my real estate blog series Tomeka's Two Cents 

Real estate blurbs

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Additionally, please note that the sender does not have authority to bind a party to a real estate contract via written or verbal communication.

I wanna buy a home Part 3: I've found the home I love, now what?

When going out on showings, please be sure to bring your check book.  Remember every meeting to see homes is with the intention to purchase one of them, should you decide that home is the one.  Stay on ready!

Once you've found the home you love and decide to write an offer, we will then discuss the details from your financing strategy regarding the terms of your offer: offer price*, seller help/concessions (if needed), amount of your Earnest Money Deposit (EMD) and any other terms that may apply. Finally, you will write a check, as instructed, for your EMD** and I will then head out to write up your offer. 

*offer price will be subject to the comparables (comps) pulled to ensure the asking list price is not overpriced. 

** Your EMD will be cashed (deposited into my Brokerage's escrow account) not just held. Please govern your funds accordingly to ensure that your bank account, from which the check is written, has the sufficient funds. Returned checks will result in your lender denying your final approval right before settlement. 

A copy of your EMD and pre-approval letter will be a part of your offer.  

I will then write up your offer and submit to you via email for your e-signature(s).  After you sign the offer, I will then submit to the listing agent to present to the seller and await the seller’s response.  

The seller has 3 options with your offer: Accept, Counter Offer or Reject. 

If the seller rejects, then they did not like or agree to your offer.  This is typically the result of an offensive bad/low offer. Or they may have had a change of heart about listing that home and no longer want to sell. (this has nothing to do with you)

If the seller counters then there are a few terms they'd prefer change (i.e. higher offer price, give less seller concessions, quicker closing date, etc.) If the seller counters your offer, you have the right to counter their counter offer. This is called negotiations which will take place until you two reach a happy medium on that you both agree.

If the seller accepts then they are okay with all the terms of your offer and will sign the contract/offer.  You now have a ratified contract and are under contract. 

Join my FB Group for more good tips.  Sorry Realtors, I love you, but this group is NOT for Realtors.

Any questions? Call/Text me today! 443-845-1137

If you have any further questions, then please contact me:

Tomeka Givens, Realtor®

(443) 845-1137 direct

Past client reviews

Like me on Facebook

Follow me on Instagram

Read my real estate blog series Tomeka's Two Cents 

Real estate blurbs

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Additionally, please note that the sender does not have authority to bind a party to a real estate contract via written or verbal communication.

I wanna buy a home Part 2: I'm newly pre-approved, now what?

Congratulations on your pre-approval! Yay!

So now that you: 

1. Know your pre-approval status (that you have indeed been pre-approved and not denied)

2. Know your maximum comfort price range

Your next move is to call me!  

We will then schedule a good day and time to discuss:

• Agency - who represents whom in real estate 

• Expectations of one another - availability, respect for time, and any other expectations 

• An over view of the process as well as your rights and obligations (i.e. the contract) throughout the process 

• Ballpark of what to expect to spend out of pocket during the process and finally your desired criteria for a prospective home (style, location, # of beds, # of baths, school zone (if applicable), distance from work, etc. 

• Finally, we will discuss your timeline - the time frame in which you wish / need to be in your home.  This is important to know before moving forward. If your time frame is greater than 3 months, then I recommend putting your search on pause until roughly 3 months prior to your desired settlement date.

I will then search properties that fit your desired criteria (if possible).  Once found, I will send them to you via email to review.  Remember: your first tour of a home is on line.   

Upon receiving prospective properties, you will let me know your thoughts on each property and which are worthy of a tour.  We will then synchronize our schedules to accommodate a tour of the property.

Note: It's okay if you find the property you want in the first few homes.  It's not abnormal to have that experience. It is my job to hit the bullseye for you based on your expressed desires in a home. There is a mystique that you have to see 20+ homes before you find the one.  This is not true. Don't get caught up in the FOBO (Fear of Better Options) or FOMO (Fear of More Options) syndrome. If you love it and can comfortably afford it, then it's ok to move forward on submitting an offer. 

Join my FB Group for more good tips.  Sorry Realtors, I love you, but this group is NOT for Realtors.

Any questions? Call/Text me today! 443-845-1137

If you have any further questions, then please contact me:

Tomeka Givens, Realtor®

(443) 845-1137 direct

Past client reviews

Like me on Facebook

Follow me on Instagram

Read my real estate blog series Tomeka's Two Cents 

Real estate blurbs

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Additionally, please note that the sender does not have authority to bind a party to a real estate contract via written or verbal communication.

I wanna buy a home Part 1: ...but I have absolutely no idea of where to start!

So, you've decided you want to buy a home.  But have no idea where to start. 

Your very first step should be to reach out to a lender to discuss your financing strategy. Let me be crystal clear: not a credit repair person, but a lender. Why? Who better to tell you what you need to do, should you find yourself shy of pre-approval (denied for a mortgage), than the person who is qualified to pre-approve you? 

In the event you are not pre-approved, ask the lender to "draw a road map" and tell you exactly what you need to do to get approved.

Sidebar: Don't get bummed out about not getting pre-approved. Delay does not mean denial.  Follow the lender's instructions and you'll be pre-approved before you know it.

Fast forward: Now you are pre-approved. Yay! Mortgage mantra: just because the bank pre-approves you for a certain amount doesn't mean you should spend that entire amount.  You must find your comfort zone.  This is done by working backwards...rather than focusing on the purchase price amount, focus on what your monthly payment is going to be. 

Lender: Congratulations, you've been pre-approved for $xxx,xxx.

You: Cool, thanks.  My maximum comfort zone for a monthly mortgage* is $x,xxx. At what purchase price does that put me?

This is the question you ask the lender in order to determine your comfort zone.

When a lender gives you a breakdown of your monthly mortgage, it should include 4-5 items that I refer to as your P.I.T.I. M.I. (pronounced Pity me)

P - Principal

I - Interest

T - Taxes

I - Insurance

MI - Mortgage Insurance (if applicable)

Whatever purchase price your maximum monthly mortgage comfort zone lands you should be the maximum purchase price of homes you should be searching.

Along with your pre-approval you should get or request a loan estimate.  A loan estimate shows the amount of your down payment, monthly mortgage payment should be as well as your closing costs.  These are 3 figures you should know in the beginning and be confident in your ability to pay.  Your down payment and closing cost (whether having it saved, obtaining funds from a home buyer incentive or negotiating seller help for closing cost) determines if you can successfully purchase the home.

Once you have your financing strategy locked and loaded with a lender, then contact me, Tomeka Givens, Realtor®.

Join my FB Group for more good tips.  Sorry Realtors, I love you, but this group is NOT for Realtors.

Any questions? Call/Text me today! 443-845-1137

If you have any further questions, then please contact me:

Tomeka Givens, Realtor®

(443) 845-1137 direct

Past client reviews

Like me on Facebook

Follow me on Instagram

Read my real estate blog series Tomeka's Two Cents 

Real estate blurbs

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions. Additionally, please note that the sender does not have authority to bind a party to a real estate contract via written or verbal communication.