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Highland : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 4
Tue Mar 28, 2017
Kory asked:
Previous listing agent is Creig Northrop Team with Long & Foster but Creig Northrop Team
of Keller Williams - Greater Howard County (410) 695-6720 is what comes up when you visit the…
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Sun Dec 16, 2012
Adam Rich answered:
While all the other answers are correct it is also true that the Realtor Code of Ethics specifically prohibits using the contract to negotiate compensation.

Standard of Practice 16-16

REALTORS®, acting as subagents or buyer/tenant representatives or brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing broker’s offer of compensation to subagents or buyer/tenant representatives or brokers nor make the submission of an executed offer to purchase/lease contingent on the listing broker’s agreement to modify the offer of compensation.
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Mon Sep 19, 2011
Nellie Arrington answered:
Good afternoon! I spent time with several other clients this weekend, working with them on this very issue. From your zip code, I think you may be in Montgomery County, with thoughts of buying in Highland. So, you need to get a market analysis on your Montgomery County property, and then -- with your agent -- set up an asking price for that house that makes it appeal to the mot buyers possible without 'leaving money on the table.' Meanwhile -- preferably with the same agent since quite a few of us work in both counties -- you look for houses in Highland that you like. You can put an offer in on a house, contingent on selling and settling your existing house. The sellers will evaluate that risk, along with the other terms of the contract you are offering, to decide if they want to wait for your house to sell. Some sellers will agree; some won't.

The key word in your question was 'plan' -- it takes planning and strategizing to make this work, but it can as long as everyone involves understands the process, and respects each other!
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Mon Sep 22, 2008
Mrl answered:
Tax Incentives

In Maryland productive agricultural and forested lands receive a 'preferential tax assessment' meaning that the land is taxed, by state law, based on its use rather than its value as residential land. Local tax incentives that reduce county property taxes on protected land also reduce the costs to resource-based industries. This often helps to encourage the sale or donation of conservation easements.

Conversely, Maryland 'recaptures' some of the preferential assessment by imposing an Agricultural Transfer Tax on agricultural land that is taken out of production, presumably for development. Those monies are shared with the counties and are used to fund the Maryland Agricultural Land Preservation Program (MALPF).

In addition to the preferential tax assessment local taxing authorities can provide tax credits to landowners who permanently or temporarily protect their land. It can include tax relief for both residential and agricultural improvements, or just for the undeveloped portions of property subject to an easement. Some counties have provided a cap on the maximum amount of credit to be given in order to prevent abuse of the program, or to limit loss of taxes to the local government. Anne Arundel, Harford, Howard and Montgomery counties have the most generous tax credits in Maryland.
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