A combination of historically low interest rates and low supply have created a favorable housing market for sellers in the Greater Baltimore, MD area. Low interest rates are effectively providing Baltimore homebuyers with the ability to purchase much more house for their money.

Heise & Co. recently represented a buyer in purchasing a property in Catonsville, MD, traditionally an area with a lower inventory of quality offerings. The house that our client purchased was an attractive home with many upgrades in the Colonial Gardens neighborhood.

The house was on the market for just four days during which the seller received four offers. As the agent representing the buyer, we helped place our client in the winning position by employing a multi-pronged strategy that made his offer the most attractive even though it did not net the seller the largest amount of money.

Additionally, we were able to build a credit into the purchase price that allowed the buyer to keep his settlement expenses and out of pocket funds to a minimum.

In the market for a new home in Baltimore, MD area? Interested in learning how we can employ similar strategies to purchase a new home in a competitive real estate market like we did for this client? Give our Baltimore, MD-based real estate brokerage a call today 410-276-1983.

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.

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.

Oftentimes real estate investors experiencing struggles with investment properties do not consider a short sale as an option and believe that their only way out is foreclosure. Fortunately, this is not the case for Maryland commercial real estate properties.

Maryland Commercial Investment Property Short Sale

Recently the founder of Heise & Co. assisted in the sale of a small portfolio of investment properties for a client The portfolio consisted of four properties that were located in Harford County, Baltimore County and Baltimore City. There were a total of seven outstanding mortgages on the properties and total loan balances exceeding $500,000.00.

 After months of hard work by everyone involved, settlement on the final property in the portfolio occurred and we closed this matter for our client. In the final outcome the lenders received less than $250,000.00, half of what was owed, and our client obtained releases of liens and waivers of deficiencies on all loans. Of note is that this client is gainfully employed and draws a strong annual salary, showing that even the seemingly impossible transactions are possible with the right approach and consistent effort.

If you are a real estate investor and find yourself needing to sell your Maryland commercial property at a loss, a short sale may be your best option.

Give our Baltimore-based commercial and residential real estate brokerage a call at 410-276-1983 to see how we may be able to help.