Selling and buying without an agent in Maryland

Who runs your closing

Maryland does not require an attorney to conduct your closing. Most residential settlements are handled by a title or settlement company, which the buyer typically selects, orders the title search, issues title insurance, holds funds in escrow, and records the deed once you sign. The one attorney-specific wrinkle is deed preparation: under Md. Code, Real Property Section 3-104, a deed can be recorded only if it certifies that it was prepared by an attorney admitted to the Maryland bar, under an attorney’s supervision, or by a party named in the instrument. In practice the settlement company’s attorney drafts the deed, though you may hire your own lawyer or prepare it yourself as a named party.

What you must disclose

Maryland is a disclose-or-disclaim state. Under Md. Code, Real Property Section 10-702, a seller of single-family residential property must give the buyer either a Residential Property Disclosure Statement, completed as a disclosure, or the same form completed as a disclaimer that sells the home “as is.” Both options appear on one form published by the Maryland Real Estate Commission. Choosing the disclaimer does not free you of everything. Even a seller who elects the “as is” disclaimer must still disclose latent defects the seller actually knows about, meaning material defects a buyer would not reasonably discover by a careful visual inspection and that pose a direct threat to health or safety. Complete the form honestly, deliver it to the buyer, and keep a signed copy.

Transfer taxes

Maryland charges a state transfer tax of 0.5 percent of the sale price under Md. Code, Tax-Property Section 13-203, and on residential sales the custom is to split it evenly, roughly 0.25 percent each, though your contract can allocate it differently. First-time Maryland homebuyers qualify for a reduced 0.25 percent state rate, and the statute places that entire amount on the seller. Most counties add their own transfer tax, and recordation tax applies too, so your total tax depends on where the property sits. Confirm your county’s current rate with the Maryland State Department of Assessments and Taxation before you finalize your net-proceeds estimate.

The bottom line for doing it yourself

Selling without an agent in Maryland is very workable. The two things you cannot skip are the Section 10-702 disclosure or disclaimer and a proper settlement that records a valid deed. Fill out the state form truthfully, disclose any known latent defects even if you sell “as is,” and let the buyer’s title company handle the title work, payoff, and recording. Budget for your share of transfer and recordation taxes, price the home with those costs in view, and you keep the commission savings that led you to sell yourself. This guide is general information, not legal advice. Consult a licensed Maryland attorney about your specific sale.