Is it typical to sign a contract when submitting an initial offer for the purchase of a condo in Baltimore, MD?

Asked by Parahkdc, New York, NY Tue Oct 16, 2012

In New York, typically offers are made verbally or by email and after the negotiation process with the offer being mutually agreed upon, the buyer and seller then signs a contract. Is this different in Baltimore?

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The Roskelly…, Agent, Gambrills, MD
Tue Oct 16, 2012
Yes, your offer must be in writing to be valid in the state of Maryland.
0 votes
asha.goel, , Baltimore, MD
Tue Oct 16, 2012
Yes, in Maryland anytime you make an offer it is writing. In NY lawyer's draw the contract after it it negotiated but not in Maryland. Everything is in writing here and a Licensed Realtor will write an offer.

Thank you,
0 votes
Charlotte Pa…, Agent, Baltimore, MD
Tue Oct 16, 2012
In Maryland, condos are treated the same as all real property. The offer needs to contain all of the terms and conditions for the purchase. The seller will have to provide you with the documents for the condo association for your review, which have to contain specific information listed in the addendum. In the event you find the documents for the association contain information that is unacceptable to you, you have the right to void the contract during the period stated or by the law in the State of Maryland. However, you can certainly make a verbal offer, it is just an informal and non binding way of doing it that most sellers do take seriously.
0 votes
Richard Iaro…, Agent, Gambrills, MD
Tue Oct 16, 2012
You will find a number of things different dealing with real estate between NY and MD. Putting offers in writing is one of them. The other is that we're not an attorney State when it comes to closing.
0 votes
Marney Kirk, Agent, Towson, MD
Tue Oct 16, 2012
In Maryland, all contracts must be in writing with all contingencies and addenda.

I hope this helps!

Thank you!

Sincerely,
Marney Kirk
Keller Williams Excellence Realty
0 votes
Robert McArt…, Agent, Fallston, MD
Tue Oct 16, 2012
As a listing agent or...one who represents the Seller, I look for offers that are written. This tells me that the Buyer is serious about the property. It also paints the picture as to your finances, your contigencies, when you are looking to settle, what type of inspections you are looking to perform and when, etc. My Seller(s) will then have something to respond to.
0 votes
Robert McArt…, Agent, Fallston, MD
Tue Oct 16, 2012
As a listing agent or...one who represents the Seller, I look for offers that are written. This tells me that the Buyer is serious about the property. It also paints the picture as to your finances, your contigencies, when you are looking to settle, what type of inspections you are looking to perform and when, etc. My Seller(s) will then have something to respond to.
0 votes
Matthew T. S…, Agent, Perry Hall, MD
Tue Oct 16, 2012
In order to demonstrate your good faith in the transaction, I always advise my clients to make the offer in writing. It makes everything clear and concise for the seller so that there is no confusion about the terms of your offer.
Web Reference:  http://www.SoldwithSmoot.com
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