Many counties in Maryland recently changed their treatment of the Homestead Tax Credit when an estate is the seller. This new Recapture Tax comes as an unwelcome surprise to listing agents and personal representatives because it can drastically reduce seller net proceeds. First, let’s talk about the Homestead Tax Credit (HTC). The HTC shields homeowners from drastic tax increases. The credit is reserved only for a principal residence. A homeowner is eligible to apply after
Unfortunately, money laundering occurs in real life — and not just by Jason Bateman in “Ozark.” Traditional hotspots have been California, Miami, New York, Chicago. But guess who just made the list! The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a new Geographic Targeting Order with reporting requirements that affect real estate transactions in Washington, D.C., Northern Virginia, Maryland and especially Baltimore! As of 4/29/2022, if your CASH buyer is paying
Man and Aging Father
If you’ve been a Realtor for any length of time, you know that people will come to you for advice on all things related to real estate. At some point in your career, you’re bound to encounter a question about how to handle a situation where the owner of a property, likely a loved one, is no longer mentally and physically able to care for the property and make the necessary decisions about how to
No matter how amazing you are at your job, sometimes the most difficult part is finding new business. Whether you’re a real estate agent or a lender, you’re going to have plenty of competition out there. Buyers and sellers have options, and it’s an uphill battle to get their attention. That’s why the secret to success is maximizing your repeat clients and referrals. If you can take your existing clients and increase their impact exponentially
The concept of ground rent in Baltimore and surrounding counties may be traced back to colonial times when investors bought tracts of land from the newly sovereign colonial governments and allowed tenants who otherwise could not purchase land for themselves to make small, incremental rent payments as a less-expensive alternative to land ownership. This practice may be out of date in today’s market yet most leases renew in perpetuity. Some ground rent holders are registered
Almost no closing is impossible with Advantage Title, and that’s because of our awesome team members like Becky Ohlinger. Whether it’s settling on a property here in Maryland or maybe coordinating a closing in Argentina or the Dominican Republic, Becky will find a way to get it done. We already know how hard she works for our clients, so let’s take a few moments to get to know her a little better outside the office.
Most of us think of a “Tenant” as a person who rents from a landlord and has permission to use the property. So let’s think of “Tenancy” as owning and using the property. If it’s just you, then tenancy can be listed as simply as Sole Ownership. If it’s more than one person, a title company will ask how you want to take title? You will be given the options of Tenants In Common, Joint