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Pikesville Short Sale – Sold! $63,000 saved!

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We recently facilitated a short sale for a single family home located in Pikesville, MD and could not have been happier with the outcome. The seller engaged Heise & Co., our Baltimore-based real estate brokerage, to handle the sale of the property, and the law offices of Heise & Heise, LLP to handle the short sale component of the transaction. 

By having our teams handle both elements of the transaction, all parties benfitted from more streamlined communications between us, our client, bank, title company and buyer’s agent. Normally, in this type of transaction involves six to eights parties throughout the sale effort and short sale processing which often lead to long delays.

Utilizing our tandem Heise teams expedited the processing by dedicating only two individuals to handle the entire sale and short sale processing which is important for clear focused communication.

What does this all mean? It means that the seller went from listing the property to the day of settlement in just 94 days, saved herself over $63,000 in debt and had no out of pocket expenses.  

If you find yourself in a situation where you need to short sell your property in the Baltimore area there is no better combination to get this done than Heise & Co. and Heise & Heise, LLP.  Get in touch with us today by calling (410) 276-1983.​

Maryland Home Buyer Refund Program

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Single-Family Maryland Home Buyer Rebate PropertyAre you currently looking to buy a home in the state of Maryland? Todd Heise of Baltimore-based Heise & Co., an associate broker of Douglas Realty, offers Maryland home buyers a real estate commission refund of 25% on our firm’s commission earned through the transaction. In fact, we are one of the very few residential real estate agents in Maryland publicly advertising refunds for home buyers.

What is a Home Buyer Refund?

A home buyer refund is similar to refunds you might see with other types of purchases of goods or services. Typically, this involves an incentive, or additional reason, for a buyer to take make a purchase. A common example is when a buyer of a vehicle receives a cash credit against the purchase price at the time of sale. While the purchase of a home is more complex the refund principle remains the same. 

Home buyer refunds are offered in many states across the country as an incentive for the home buyer to use a broker’s services. These incentives range from including cash-back, complimentary home inspections, discounts on closing costs, or perhaps gift cards for home remodeling services through a local contractor.

Best Home Buyer Refund in Maryland

Our aptly named home buyer refund program, Cooperative Commission Program, is the best home buyer refund offer in Baltimore County. For a qualified home, we offer Maryland home buyers a 25% cash-back refund on the net commission we receive after closing. To ensure that we maintain the highest level of service for our clients, and to avoid overextending ourselves, we do limit qualified homes to those where the offer is $300,000.00 or greater. 

Here is an example of how our Maryland home buyer refund works:

Sales Price: $450,000
Heise & Co. Commission Percentage: 2.5%
Buyer Refund Percentage: 25%
Total Commission: $11,250

REFUND TO HOME BUYER: $2,812.50

Interested to see how much you could save on your Maryland home purchase? Click here to use the Department of Justice’s homebuyer rebate calculator.

How Refunds Benefit Maryland Home Buyers

In short, our program can make buying a home in Maryland less expensive by putting money back in your pocket. There are all sorts of expenses involved with a home purchase such as inspections, lender fees, title company fees and the list goes on. A refund of a portion of the commission allows you as a home buyer to recoup some of those charges and lower your home purchase expenses. 

Get a Home Buyer Refund in Maryland and Save

If you’re going to buy a house in Maryland, why not get money back in your pocket and expedite plans for a home project or upgrade that can add even more value to your investment? You wouldn’t overpay for other items you purchase on a regular basis because that would add up over time. Even though a home is not something that you purchase often, we at Heise & Co. don’t want you to overpay for your home. Because a home purchase will likely be the largest purchase of your lifetime it is one that can provide a greater opportunity for savings.

Are you looking to buy a home in Maryland?

Call Baltimore, MD real estate broker Heise & Co. today at (410) 276-1983 and learn more about our Maryland home buyer refund program.

Biggest Mistake Made By Commercial Property Buyers or Lessees in Maryland

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At my Baltimore-based real estate law firm, Heise & Heise, LLP, people purchasing or leasing commercial property often ask me to prepare a contract or review a lease after they have negotiated the terms of these documents with a seller or landlord’s agent. Not engaging a Baltimore real estate professional before negotiating a purchase or lease is item number one on the list of the worst things people can do in this type of transaction. 

Why do people take this approach to commercial real estate transactions?

  • They may think that they are better negotiators than a real estate agent.
  • They may think that they have a better chance of purchasing or leasing if they deal with the owner’s agent directly.
  • They may even think that they are saving money by not engaging their own real estate agent. 

Let’s explore how these notions of Maryland commercial real estate are flawed. 

First, assuming that the prospective buyer or tenant is a better negotiator than an agent they still may do worse on terms because they simply do not have the resources a real estate agent has. For example, I can use our commercial database to determine vacancy rates, area demographics and what nearby properties are selling and leasing for to negotiate the best deal available in the market. 

Second, if someone thinks they have a better chance of entering into a purchase or lease with just one agent they are mistaken. In most instances commercial real estate agents want to deal with other agents, not end users. Why is this? There are many tasks that a buyer/tenant will need to handle on the way to closing. These tasks may include preparation of a contract, performing environmental and property condition assessments, locating surveyors and title agents, securing zoning confirmations, reviewing due diligence materials, along with many more tasks. The listing agent knows that without another agent involved they will have to deal with all of these tasks or may even conclude that the buyer/tenant is in over their head and has no hope of completing the transaction. This may cause the seller/landlord to wait for a better prepared buyer/tenant. Also, it is important to note that the seller/landlord’s agent is looking out for the best interests of their clients. They may seem agreeable and helpful but their objective is to get the best deal for their client and that isn’t you.  

Lastly, buyers/tenants think they will have to pay for a commercial real estate agent to assist them. In a majority of transactions, commercial agents get paid in the same way that residential agents do, from the seller or landlord’s funds. The result is that you get the assistance of a real estate professional that is looking out for your best interests and the person selling or leasing the property pays for it! How does this work? When an agent gets a listing, they negotiate a certain amount that they will keep as a commission and they also negotiate a certain amount that will be paid out to an agent that is working with a buyer or tenant.  

If you are shopping for a new commercial property in Baltimore or across the state of Maryland to purchase or lease, contact our real estate brokerage today to find out at 410-255-3690.

 

 

 

Selling a Baltimore Waterfront Property (21220) in December

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Seller Saves over $6,000 in Transaction Fees

Who says you can’t sell a house in Baltimore in November and December? As the listing agent, we put this great Baltimore County waterfront property, located on Wilson Point Road, under contract in 9 days and settled for $560,000 just before Christmas. 

As seasoned experts in the Baltimore residential real estate market, Heise & Co. offered a market analysis as well as marketing advice to the seller prior to listing. This allowed the seller to see what comparable properties were selling for, price his property realistically and enjoy a quick sale. Among the tools used to help induce the sale of the property was the addition of professional marketing photos to get eyes on the listing. 

What could make this real estate transaction any better? Heise & Co.’s competitive commission program saved the seller $5,600.00 in real estate commission and we paid the broker flat fee saving the seller another $450.00. Total savings enjoyed by the home seller on this waterfront property in Baltimore County was $6,050.00.

Interested in what we can do to help you sell or buy a house in the Greater Baltimore Area? Contact our Baltimore residential real estate office today to find out at 410-255-3690.

Dundalk Commercial Property Acquisition

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Todd Heise and Heise & Co. recently acted as the buyer’s agent for the acquisition of a commercial property in the Dundalk area of Baltimore County, MD, located at the intersection of Holabird and Delvale Avenues. This freestanding building contains over 5,000 square feet of interior space and is situated on a parcel with an area of .36 acres. The building has retail and office areas, seven service bays, generous surface parking and great signage options. After the purchaser completes some upgrades the property will be offered for lease. The purchaser is looking forward to having another great business set up shop in this high visibility location.  

Heise & Co. was able to assist the buyer with the acquisition by performing the following:

  • introducing the buyer to the attorney that prepared and negotiated the purchase and sale agreement;
  • introducing the buyer to the title company that was able to perform a title search and identify title defects requiring cure;
  • identifying companies to prepare an environmental site assessment (“ESA”) and a property condition assessment (“PSA”); 
  • negotiating the terms of the ESA and PSA;  and
  • assisting buyer with review of purchase and sale agreement and ESA and PSA results.

Dundalk is enjoying a renaissance and offers tremendous opportunities for commercial real estate investors to get in on the ground floor of some once in a lifetime opportunities. Call us at 410-276-1983 to set up your property search today.