All Forum Posts by: Thomas Watson

Has anyone done a contract for deed in Maryland? I am selling a property in Baltimore this week and I would like to use a title company/lawyer or loan originator familiar with contract for deeds in Maryland.

Thanks,

Thomas

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Thanks

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Is there a way to avoid withholding requirements when selling property in Maryland? On the sale of an investor property for 32K I will have to pay almost $2500 in withholdings.

Withholding Requirements for Sales of Real Property by Nonresidents

If you are a nonresident who owns and is selling or transferring real property and associated tangible personal property in Maryland, you must make a tax withholding payment to the local Clerk of the Circuit Court or the State Department of Assessments and Taxation (SDAT). The payment must be made before the deed or other instrument of transfer is recorded with the court clerk or filed with SDAT.Generally, the person responsible for your closing, a title company for example, is responsible for ensuring that sufficient funds are withheld at settlement and for paying the amount of withholding tax due to the Clerk or SDAT when the deed or other instrument of transfer is presented for recordation.In the case of a nonresident individual, the payment is 7.5% of the total property sale payment made to the individual. A nonresident entity must make an 8.25% payment. See Withholding Requirements for Sales of Real Property by Nonresidents.

Thanks,

Thomas

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Thanks. Wisconsin

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We are purchasing a property in the Richmond area.

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Does anyone know of a good real estate lawyer to represent my company in a closing?

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Hi guys,

My team purchased an investment property in Peoria, IL. We are looking for a title company and lawyer to perform foreclosure on the property.

Thanks

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Thanks Seth. I will be in touch.

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All Forum Posts by: Thomas Watson

Thomas Watson has started 15 posts and replied 49 times.

Post: Real-Estate Attorney Recommendations in Maryland

Post: Contract for Deed in Maryland

Post: Contract for Deed in Maryland

Post: Withholding Requirements for sales of property by Nonresidents

Post: Withholding Requirements for sales of property by Nonresidents

Withholding Requirements for Sales of Real Property by Nonresidents

Post: Wisconsin lawyer

Post: Wisconsin lawyer

Post: Wisconsin lawyer

Post: Investor Friendly Attorney/Title Companies in Illinois

Post: Baltimore City Property Manager