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Deposit amounts are non refundable if less than 3% of S.P. or $1000.00 whichever is greater. Min. Deposit is $1000. Deposits are held by the listing company and are made payable to RE/MAX Professionals. If settlement is less than 15 business days from ratification then certified or bank funds are required.
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Settlement date must be 30 days, 45 days for FHA and VA, from contract date. Seller will settle earlier but the date must be 30/45.
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Loan approval (not a pre-qualify) letter is required showing credit has been reviewed; and all verifications of employment and assets have been performed and approved by the primary lender. The type of loan and LTV must be shown on the letter. All contact information must be included. A pre-approval from Chase Home Finance is required, they are the approved lender and usually have the best rates - Dan 410-353-6706.
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Strike paragraph 18 (termite clause) in the contract of sale. Have buyer initial. All sales are “AS-IS” and this clause must be signed off by the buyer with all contract offers.
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Home inspections are allowed for “up to 5 days only” or one could be performed prior to submitting a contract with written approval.
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Property condition may not allow for certain types of government insured loans. Bank will make no repairs and will not pay lender fees under FHA or VA contracts or pay for FHA or VA required repairs.
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Written Loan commitments must be for 20 days or less and written in the contract and commitment provided to listing agent upon request.
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Any closing costs requested must have “up to” next to the requested amount. Copy of Deposit check must be included with offer.
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No HOA or Condo document review contingencies can be used or noted in the contract. Resale package will be provided if requested in writing.
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Contract offers must be completely filled out and all appropriate, jurisdictional addendums must be included. Failure to do so may delay a response or allow another contract offer to be accepted. Contracts can be emailed or faxed. Email: info@MarylandHomes.org; fax: 240-206-3765. Scan & email is preferred. Call 301-572-2226 to let us know a contract is forthcoming.
