A savvy realtor will be able to help you pull together a great offer for a property. The process is the same whether it is in Locust Point or elsewhere. A realtor will help you by comparing your home of choice to others on the market and others that have sold in that community. They will help you devise a fair market price to offer the seller. In today's market many sellers are prepared to help the buyer with their closing costs. You can ask for up to 6% of the sales price in seller concessions. In addition to that you will need your own money for downpayment and that is determined by the kind of loan you are getting, whether it is CDA, FHA, VA or Conventional. In a real estate transaction, everything is a negotiation, the buyer and seller normally split the transfer taxes and recoration fees, if you are a first time home buyer then the state gives you a credit for the state portion of the transfer taxes and the seller help you may ask for will cover a lot of those costs. If you have any more questions please don't hesitate to give me a call.