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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Purchasing Bank Owned, Foreclosure and Short Sale Properties

A great deal has been written recently about the sale of Bank Owned or Foreclosed properties, as well as “Short Sales.” Buying such properties can certainly result in a significant savings in the purchase price. However, like any other purchase of a discounted item, there are cert
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Can You “Lock In” Your Loan Rate?

By David Parker, Esq. QUESTION: I am about to settle on a house and I am worried about the interest rate that I will get on my loan. I met with a Lender but I don’t have anything in writing. I am worried that interest rates might increase before my settlement. Can I get something in
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Tax Deferred Exchanges and Investment Property

By David Parker, Esq. QUESTION: Several years ago, I purchased an investment townhouse which I have been renting out. The property has substantially increased in value, and I am considering selling the townhouse. However, I am afraid that I will have to pay taxes on my profits. I am a
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Taking Title to Real Property

By David Parker, Esq. QUESTION: My husband and I are about to purchase a house. We are concerned about what would happen to the house if one of us dies. Is there a certain way to take title to the property in order to protect our interests? Should I contact an attorney in advance or c
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The Real Estate Settlement Proceedure Act (RESPA)

By David Parker, Esq. QUESTION: I have been reading in the newspapers about attempts to change the whole real estate settlement process, the lending process and the many disclosures and documents that have to be signed. I have read that the biggest problem seems to be that people are
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Dealing with Affiliated Title Companies vs. Independent Ones

By David Parker, Esq. QUESTION: I have just signed a contract to buy a new house and now I must select a Lender and a Settlement Attorney. My agent suggests that I go to a lender and title company that are “affiliated” with the real estate agents company. I am not sure if I will g
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Real Estate Title Company in Gaithersburg, MD
177 Kentlands Blvd.