DC FIRST-TIME HOMEBUYER REDUCED RECORDATION TAX – UPDATE
Beginning on October 2nd,the Recorder of Deeds will begin accepting applications for this benefit. The application (ROD 11) can be found at https://otr.cfo.dc.gov/node/1272871. Please consult your settlement company to coordinate obtaining of the documents that will be required to submitted along with application and the Deed. As there is no pre-certification process currently available forRead More
COMING TO FIRST-TIME DC HOMEBUYERS
Effective October 1, 2017, the District of Columbia will afford “first-time District homebuyer(s)” a reduced recordation tax when they purchase “eligible property”. The effective recordation tax will be reduced from 1.1% or 1.45%, as the case may be, to 0.725%. This should have the effect of a significant savings for many buyers and isRead More
Recordation Fees & Taxes
Each transaction is unique in terms of the government recordation fees and taxes that are required to be paid. The exact amount of these fees can vary based upon a number of factors including, but not limited to: jurisdiction, sales price, loan amount(s), number of loans, intended use of property, and prior ownership. We willRead More
Counselor John Nalls Discusses Several Key Changes Coming to the HUD-1 this August, with Real Estate Today Radio
“As a lawyer, John merits an “AV” Peer Review Rating, the highest level, reflecting his exceptional skill and integrity as affirmed by the Martindale-Hubbell Peer Review. His varied and substantial legal background and experience allow him tackle even the most difficult transactions.” John Nalls Radio Interview with Real Estate Today On Real Estate Today Radio’s monthly segment of “TheRead More
GCAAR Q&A: Do commercial sales in Montgomery County require the REA form?
Question: Do commercial sales in Montgomery County require the REA form? Answer: No. The Government Regulations, Easements and Assessments Disclosure and Addendum (REA) form (GCAAR Form 900) is designed for residential sales in Montgomery County, Maryland only and is an effort at providing a compilation of required disclosures and representations required by residential sellers underRead More
The Counselors Top Ten Inspirational Martin Luther King Quotes
The Counselors Top Ten List of Favorite Inspirational Quotes from Dr. Martin Luther King 1. “Life’s most persistent and urgent question is, ‘What are you doing for others?” -Dr. Martin Luther King Jr. 2. “No work is insignificant. All labor that uplifts humanity has dignity and importance and should be undertaken withRead More
GCAAR Q&A: What is a “sub-agent” in regard to Broker giving commission?
QUESTION: What is a “sub-agent” in regard to Broker giving commission? Is a subagent a licensed agent? If not, is it best to NOT agree to pay a subagent, and have the payment only go to a licensed agent? Answer: Subagency refers to the relationship between the listing broker/agent and another broker/ agent who bringsRead More
Am I Really Getting a Good Deal on my Refinance Costs? Comparing “Caramel Apples to Caramel Apples” for your Refinance Title Related Expenses. (“Halloween” Edition!)
Am I Really Getting a Good Deal on my Refinance Costs? Comparing “Caramel Apples to Caramel Apples” for your Refinance Title Related Expenses With the interest rates at historic lows again this Halloween Season, many homeowners are considering refinancing their property and are looking to do so asRead More
Real Estate Today Radio: Interview with Counselor, Chris Darby; What to Expect at the Settlement Table
Check out the radio interview by Counselor, Chris Darby, on Real Estate Today Radio! Chris discusses settlement terms, CFPB, the HUD-1, and further important information and facts to know when it comes time for your settlement! To listen to the interview use the link below! Chris Darby | Real Estate Today | Radio Interview
GCAAR Q&A – Is a verbal response to a home inspection notice enforceable?
Question: Is a verbal response to a home inspection notice enforceable? And how are “days” calculated under the contract? Answer: The Home Inspection Contingency of the Addendum of Clauses (GCAAR Form # 1332) requires delivery of a “Notice” to the other party in response to an offer or counteroffer made by the otherRead More