Ocean City Real Estate Blog

MD Nonresident Property Owner Withholding- Ocean City, MD

Women on Vacation on the Beach Throwing MoneyHow much money will be withheld when I sell my house in Maryland?

That is a question every MD Nonresident property owner should ask themselves prior to selling. Why? It’s the Law and there’s no way around it.

Almost 16 years ago, October 1, 2003, Section 10-912 was passed by the general assembly and placed into effect. Section 10-912 addressed the sale or transfers of real property and associated tangible property in Maryland by nonresidents AND nonresident entities. This law is still as relevant today as it was when it was passed in 2003.

The withholding of monies is for potential taxes that may be due from the sale of your property. The collection of the...

Market Insight- Ocean City MD | February 2019

Home and Dollar Sign drawn in Beach Sand

Market Insight- Ocean City, MD | February 2019

Market Insight Made Easy

Whether you are Buying or Selling Real Estate in Ocean City, MD, you should be aware of the current market trends. Stay up to date with an easy one-page recap of the past month (New Listings, New Pendings, Closed Sales, Median Sold Price, Active Listings, Average DOM, and Average Sold to OLP Ratio).

For a more a detailed report, click Market Report or Market Statistics.

My opinion moving forward – Closed Sales and New Pendings are up both year over...