This page covers home purchases and sales. It is one of the title and settlement services we offer across Maryland, and the one most buyers and sellers need.
For the whole timeline from ratified contract to keys, read how a Maryland settlement works.
Protect your asset
Maryland First Title makes it simple to get the right title insurance, backed by the reputable Stewart Title, for added security and trust. We issue policies for property owners and mortgage lenders in residential and commercial transactions, such as resales, new construction and refinances. Our owner’s policy protects buyers against hidden title problems such as deed errors, mistakes in the record search, forgery and undisclosed heirs, and it stays in effect for as long as you own the property.
For mortgage lenders, we provide a loan policy that protects the lender’s interest up to the loan amount, decreasing as the loan is repaid. Lenders require this policy when they make a mortgage loan, and it does not cover the buyer. With Stewart Title’s backing, our clients enjoy added security and broad coverage, so both owners and lenders are protected against title problems.
We come to you, at no cost
Maryland First Title also supports you through the closing itself. Our attorney settlement agents will come to you anywhere in Maryland at no extra cost, or host you at our Glen Burnie office. Buying or selling from outside Maryland? We arrange a remote settlement. We coordinate with everyone involved, including real estate agents, lenders and other parties, so that every detail is covered. Our experienced agents handle every part of the closing, from opening escrow to the final signing, and make sure every requirement is met with the utmost professionalism. With Maryland First Title, you can rest assured that your home sale or purchase is in expert hands.
Who this is for
- Buyers of a house, townhouse or condominium anywhere in Maryland
- Sellers who need the deed prepared, the mortgage paid off and the proceeds paid out
- Buyers of newly built homes and the builders who sell them
- Real estate agents and lenders who need a settlement company for their clients
How it works with Maryland First Title
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Place your order
You, your agent or your lender sends us the signed contract through our order form or by phone. We open the file and confirm everyone involved.
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Search the title
We search the county land records for the property’s ownership history and for mortgages, liens, judgments, easements and unpaid taxes that must be dealt with.
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Clear any problems
If the search finds an old mortgage that was never released, a judgment or another defect, we work with the seller, the lenders and the other parties to resolve it before settlement.
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Prepare the numbers
We order the seller’s loan payoffs, work with the buyer’s lender on its closing documents and prepare the settlement statement, which shows every charge and credit, including Maryland’s transfer and recordation taxes.
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Send funds safely
We email wiring instructions. Before you wire any money, call us at (410) 768-2300, the number on this website, to confirm them. Never use a phone number from an email. How to protect your closing funds.
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Settle
An attorney settlement agent explains each document before you sign, at our office or wherever you choose in Maryland, at no extra cost, then collects and pays out the funds.
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Record and insure
After settlement we pay off the seller’s loans, pay the taxes, send the deed and the new mortgage for recording in the land records of the Circuit Court for the county, and issue the owner’s and loan policies.
What you will need
- Photo ID for everyone who will sign
- The fully signed sales contract with every addendum
- Your lender’s name and your loan officer’s contact details
- Homeowners insurance details for the new policy your lender requires
- Sellers: account numbers for each mortgage or home equity loan, so we can order payoffs
- Condominium or homeowners association contact details, if any
- A power of attorney, trust or estate papers if anyone will sign for someone else
How long it takes
Most financed purchases settle about 30 to 45 days after the contract is signed, on the date the contract sets. Cash purchases can often close sooner, once the title search is complete and any problems are cleared.
Your lender must give you the Closing Disclosure at least three business days before settlement.
Maryland points to know
Transfer and recordation taxes
Maryland charges a state transfer tax of 0.5% of the price, and counties add their own transfer tax and a recordation tax charged per $500 of the price. Unless the contract says otherwise, Maryland law presumes the buyer and seller split these taxes equally. See what the taxes come to in your county. Get an instant quote for your property.
First-time home buyers
When every buyer is a first-time Maryland home buyer who will live in the home, the state transfer tax drops to 0.25% and the seller pays all of it. The seller also pays the county transfer and recordation taxes unless the contract expressly says otherwise. Who qualifies as a first-time buyer.
The owner’s policy is your choice
Your lender will require a loan policy. In Maryland the owner’s policy is optional, and it is the only policy that protects you. Its premium is paid once, at settlement. Why title insurance matters.
Homestead tax credit
The seller’s Homestead tax credit does not pass to the buyer. If the home will be your principal residence, we give you the Homestead application at settlement so you can apply. How the credit works for new owners.
“…makes it very easy for settlement”
“Very nice people there, the lady kim is great she answers the phone every time I called. She will answer all your questions and she makes it very easy for settlement. I've used them twice myself and sent people there and they like this place too. No complaints about this place.”