Bordering Pennsylvania on the north, West Virginia on the west, Delaware and the Atlantic Ocean on the east, and Virginia Chesapeake Bay on the south, Maryland Realestate has a home for everyone who has the inclination. Be it the hustle and bustle of large cities or the serene tranquility of rural settings - Maryland offers you everything to choose from.In addition, it boasts of some of the best educational institutions in the United States and enjoys a strong, lively economy. No doubt the demand for real estate in Maryland is getting hotter by the day.Some of the important cities of Maryland are its capital Annapolis, most crowded and commercial hotspot Baltimore, Bel Air, Bethesda, College Park, Columbia, Frederick,

Ocean City, Rockville, and Salisbury.

By all accounts, the price of is quite reasonable. For instance, the average price of a single family house is around $500,000 in Baltimore. If you want the same type of house in Frederick, you will have to cough up a meager $100,000 or so. In Maryland, the increase in rate for real estate was as much as 22 percent in 2005.

Step by step

Purchasing a is not a 'come and go' sort of transaction. It needs a number of steps, each to be carefully followed.At the very beginning, decide how much money you can afford to spend for your new home. This depends on the amount of your monthly payments and also how much you have to cough up as down payment. Once you have made up your mind on that score, you will be in a position to focus on the other aspects.The next step consists of finding a lender. You will come across a number of lenders who, in return for an "up-front" charge, will send out all required verification and pre-approve you for a mortgage. This is important as it will enable you to negotiate with the seller as a cash purchaser. And there is little doubt that any seller will prefer a buyer who has his/her money in place.After that you need to choose the location you want to live in. It is wise to choose a neighborhood which is not only affordable, but also can assure you of a better return if you decide to sell the house in future. Once the selection of location is final, you shift your attention to other things like number and sizes of bedrooms and bathrooms, availability of garage or swimming pool etc.

Price negotiation

Negotiation of price with the seller is the next step. Before commencing the negotiation process, you

must have a clear idea about what a reasonable price should be for the property you are willing to purchase.Inquire about the selling prices of similar homes in the same neighborhood during the last one year or so. Try to ascertain whether your investment will pay dividends in the long run. Plan your strategy accordingly if you want one particular house and nothing else for you. As both you and the seller should be keen on reaching a deal, it is always better to offer an amount that won't seriously hurt either of you. It won't exactly make sense to lose your dream home for a thousand of dollars or so. And if you offer the seller more than what he sought as earnest deposit, your gesture might impress him and he might reduce the price of the home as a token of appreciation.

Inspection

On completion of the deal, you should get all the major systems in the house thoroughly checked. It is always better to seek the assistance of a qualified home inspector for this

purpose, as it is difficult for a normal buyer to detect the defects, if there are any. It is also customary for the lender to send an appraiser to check if you are paying more than what should be a fair market price for your home.

Why a Realtor

The thought of additional expenditure often prompts buyers to avoid using the services of a Realtor. Or they think that they are smart enough to negotiate a better deal directly with the seller or seller's agent. In most cases, however, this is likely to prove a costly error.Because, if you decide to negotiate directly with the seller or seller's agent, you may not be in a position to take advantage of the best deal available in the marketplace at that time. A professional real estate agent is an expert in financial and legal issues and whose advice can help you greatly during the entire process of negotiation. A well trained agent can help you in ascertaining property values, can answer your questions regarding financing or title issues, handle the negotiations and paperwork, carry out the inspections, appraisal, and finally prepare you for the closing. A small spending on real estate professionals can save you a lot of money, time and trouble. A skilled, experienced real estate agent can certainly make your journey to your new home much more tension-free and enjoyable.

How to choose a Realtor

You should be careful while appointing a Realtor. It is always of great use if you can trust the real estate professional and can communicate with him/her freely. Mutual respect for each other can come in handy for both. In order to have an idea of an agent's skills and level of knowledge, you may ask questions about his/her experience, area of specialization, client references etc. The right selection of an agent will always benefit a home-seeker.

After all these steps, with or without the help of an agent, you need to transfer medical records, register for schools, etc. It is then time to sign the final loan documents and take in a cashier's check to pay the remaining down payment and closing costs. You are given the keys to your new home as soon as the county recorder's office transfers the title from the seller's name to yours. You are then a Marylander.