Important Regulatory Reminder-Service Recommendations

The Maryland Association of REALTORS (MAR) is disseminating the following information: As reported in the Maryland Association of REALTORS Hot Sheet and the June Maryland REALTOR Magazine, the Maryland Real Estate Commission has adopted a new regulation that will require agents who r
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Withholding Requirements on Sale of Real Estate

        WITHHOLDING REQUIREMENTS FOR SALE OF REAL PROPERTY BY  MARYLAND NON-RESIDENTS If a seller of residential real estate in Maryland is not a resident of this state, and if they have not been so for at least two of the last five years, a payment must be made a
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Are Lenders in Trouble?

QUESTION: I have been reading in the papers that many Lenders are in trouble and are going out of business or unable to fund their loans. I am worried that my Lender will not send the loan money to my settlement. What if I get to settlement and the loan money isn’t there? ANSWER: Yo
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Regional Sales Contract – Amended Paragraph 7

Effective January 1, 2012, the Regional Sales Contract has been amended. The Property Maintenance and Condition Paragraph of the Contract (Paragraph 7) has been changed to remove the previously included warranty as to the condition of equipment, appliances or major systems. This chang
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There’s No Such Thing as a “Rush” REO Settlement

Given the recent surge in foreclosures in Maryland and across the country, it is no surprise that bank-owned (also know as “Real Estate Owned” or “REO”) properties now represent a large portion of the current stock of real estate on the market. While buyers can sometimes get a
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General Assembly Moves to Block Increased Taxes on Short Sales

An emergency bill has been introduced in the Maryland Senate and House of Delegates that would specifically prohibit counties from charging additional recordation taxes on short sale transactions above and beyond those charged on traditional home sales. As I am sure many of you are aw
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Maryland’s “Cash for Clunkers” Appliance Program Launches April 22nd

This spring, the United States Department of Energy will be distributing nearly $300 million in rebates to consumers as part of its energy-efficient appliance rebate program, often referred to as the appliance equivalent of last year’s “Cash for Clunkers” car rebate program. Eac
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Purchasing “Short Sale” Versus “REO” Properties

As Realtors are well aware, in the current marketplace, a majority of sales transactions are either bank owned properties (REO) or “Short Sales”. When representing purchasers, the question most frequently posed is whether it is better for a purchaser to acquire a Short Sale or REO
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The GCAAR Short Sale Addendum

Short Sales have dominated our marketplace as of late and in response to this, many Realtors are now familiar with the new GCAAR Short Sale Addendum (form # 1362). However, there are issues in the Addendum which should be reviewed and understood by all parties, including the participa
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IRS Provides Help for Buyers and Sellers

Real Estate Agents need to become familiar with the latest Federal initiatives to assist the housing market and to minimize some of the most difficult challenges in our market place. The first major change in the law is under the Mortgage Forgiveness Debt Relief Act of 2007. Prior to
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Real Estate Title Company in Gaithersburg, MD
177 Kentlands Blvd.