Sell Your House Fast in Maryland. Get a Cash Offer From Local Investors.

How a Maryland home sale closes

Maryland sales close at a settlement, which licensed title producers usually conduct.

• The Maryland Insurance Administration says only licensed producers can conduct settlements in Maryland.
• Title producers usually conduct settlement, file the deed and pay off liens such as your mortgage.
• Under the Title Insurance Consumer's Bill of Rights, the buyer has the right to choose the settlement agent and title insurer.
• Some Maryland homes carry ground rent. Ground rents not registered with SDAT are not enforceable.
• No new ground rents can be created in Maryland since January 22, 2007.

Transfer and recordation taxes

Maryland charges a state transfer tax of 0.5% of the consideration, plus county transfer and recordation taxes.

• The state rate is set in Tax-Property 13-203, with a reduced rate for qualifying first-time Maryland buyers.
• Baltimore County's transfer tax is 1.5% of consideration.
• Baltimore County lists a recordation tax of $2.50 per $500 of consideration.
• Under Real Property 14-104, these taxes are presumed shared equally by buyer and seller unless the contract says otherwise.
• In a sale to a qualifying first-time Maryland buyer, the seller generally pays the state transfer tax.

Seller disclosures in Maryland

Maryland sellers of covered homes give the buyer either a disclosure statement or a disclaimer statement under Real Property 10-702.

• With the disclosure statement, you report conditions you actually know about.
• With the disclaimer statement, you sell as is, without representations about condition, except as the contract provides.
• Even with a disclaimer, you must disclose known latent defects that affect health or safety and aren't visible on careful inspection.
• Exemptions include transfers by a personal representative of an estate, foreclosure sales and certain first sales of new homes.

Foreclosure process and timeline

Maryland foreclosures start with a notice of intent to foreclose and end with a court ratifying the sale.

• The notice of intent must be sent at least 45 days before the foreclosure is filed.
• The order to docket can be filed as soon as 90 days after the first missed payment, or 120 days for federally covered loans.
• Eligible owners of owner-occupied homes may request mediation within 25 days of receiving the final loss mitigation affidavit.
• Title passes to the purchaser only after the court ratifies the sale.
• Selling before the sale date may be an option. Confirm your dates with an attorney.

Probate and inherited homes

A Maryland estate with probate assets of $50,000 or less may open as a small estate. The limit is $100,000 if the spouse is the sole heir.

• The Register of Wills appoints personal representatives and issues letters of administration.
• The Orphans' Court handles estates that cannot be handled administratively.
• A personal representative's powers include selling property, often without court approval when the statute or will allows.
• An estate attorney or the Register of Wills can answer questions about your estate.

Selling a rental with tenants

In Maryland, the buyer of a rental property generally must honor existing leases.

• The People's Law Library of Maryland states that a buyer has to honor any existing leases.
• Many investors are open to buying homes with tenants in place.
• Share the lease, rent details and security deposit records with the investor early.
• Local rules can add steps, so talk with an attorney before planning any tenant move-out.

Property tax and capital gains basics

Maryland's Homestead Tax Credit limits yearly assessment increases on a principal residence. Federal law may exclude some or all of your gain.

• The state limits homestead assessment increases to 10% a year, and Baltimore County limits them to 4%.
• The home must be the owner's principal residence, and only one property qualifies.
• The SDAT Credit Office can answer homestead credit questions.
• Federal law lets many sellers exclude up to $250,000 of gain, or up to $500,000 for joint filers (IRS Topic 701).
• You generally must have owned and lived in the home for at least 2 of the last 5 years.
• A tax professional can confirm how these rules apply to your sale.

Notes for military sellers

Maryland is home to major installations such as Fort Meade, Aberdeen Proving Ground and Joint Base Andrews, and SCRA protections may apply.

• For mortgages taken out before service, a non-judicial foreclosure generally needs a court order during service and for one year after.
• The SCRA caps interest at 6% on qualifying pre-service mortgages during service and for one year after.
• Qualifying service members may elect to suspend the IRS five-year test period for the home-sale exclusion for up to 10 years.
• Servicemember tenants with qualifying orders may have the right to end a residential lease early.
• A military legal assistance office or attorney can review your situation.

Tell us about the house

Property type, condition, timeline and address. It takes about two minutes.

Talk with a local investor

An investor who buys in your area calls to learn about the property and your plans.

Review your offer

A quick walkthrough confirms the details, then you review a written offer on your own time.

Close on your date

You choose the closing date. The title or escrow company handles the paperwork and the funds.