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First Time Maryland Homebuyer Transfer and Recordation Tax Addendum PDF Form

First Time Maryland Homebuyer Transfer and Recordation Tax Addendum PDF Form

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hello this is deirdre bryan settlement agent serving the district of columbia maryland and virginia today we're going to talk about the maryland first time home buyer transfer tax credit normally when you purchase a property in the state of maryland you will pay 0.5 transfer tax split equally between the buyer and the seller if you're a first time maryland home buyer you can have that 0.25 that you would normally pay for for the transfer tax you can ask for it to be waived in addition you can request that the seller pick up your portion of the recreation taxes your realtor will need to write that request into the contract and there is a special addendum for that request for the g-car and the mars sales contract in order to receive this credit the buyer would need to affirm that he plans to own the property as his principal residence and he has never owned a principal residence in the state of maryland if title is held by more than one person and one person does not qualify then neither

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