» Real Estate
Important Steps To Take Before Looking For A Home To Purchase
May 18th, 2017
Buying a home is one of the most important financial decisions you will make. It is exciting and hard not to rush into it. Before actively starting the home buying process, you should consider the following steps so you will not waste time and energy…
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Categories: Real Estate
Thinking about selling your home “For Sale By Owner”?
January 10th, 2017
Consider These Questions When Selling Your Home FSBO Selling your home, a house or condominium, by yourself (For Sale By Owner-FSBO) can save you thousands of dollars, usually about 6% of the sale price in commissions, but it requires work. Although…
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Categories: Real Estate
Backlog of Applications for State Real Estate Transfer Tax (SRETT) Refund
August 3rd, 2016
Due to the recent volume of applications for Michigan’s State Real Estate Transfer Tax (SRETT) Refunds, there is currently a 12 to 16 week delay in the processing of the applications by the Michigan Department of Treasury. Nevertheless, the backlog…
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Categories: Real Estate
Are you entitled to a State Real Estate Transfer Tax (SRETT) Refund? - UPDATED
September 29th, 2015
With lower property values due to the housing crisis a few years back, many homeowners are able to take advantage of an exemption contained in the Michigan Transfer Tax Act. Sellers who meet the following three (3) requirements are exempt from paying…
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Categories: Real Estate
10 Questions to Ask When Purchasing a Condominium
June 18th, 2015
All sales contracts for condominiums should include a provision that a buyer’s attorney is to review and approve the condominium association’s documents, including master deed, bylaws, minutes from most recent annual meeting, current financial st…
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Categories: Real Estate
Top 10 Mistakes When Selling or Buying a Home
February 17th, 2015
1. Improperly completing a Seller’s Disclosure Statement There are many cases where a seller does not properly disclose information about the property on a Seller’s Disclosure Statement. This can lead to a buyer making a claim against the seller…
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Categories: Real Estate
New Property Tax “Uncapping” Exemption Will Help Keep Your Home, Vacation Property or Cottage in the Family
January 28th, 2015
Michigan has a new law, Public Act 310 of 2014, which has expanded the transfer of residential property to and from certain family members, trusts and probate estates, without causing the taxable value of the property to be “uncapped”. This is gr…
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New Court Case: Landlords must make reasonable efforts to contact police when criminal activity is occurring in common areas of rental property.
February 5th, 2014
On July 30, 2013, the Michigan Supreme Court ruled in the case of Bailey v Schaaf, that Landlords have a duty to make reasonable efforts to contact police when they know about criminal acts occurring in common areas of rental property which may cause…
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Categories: Real Estate
NEW MICHIGAN LAW FOR TRANSFERRING RESIDENTIAL PROPERTY WITHOUT UNCAPPING PROPERTY TAX
January 21st, 2014
On December 31, 2013 a new Michigan law, MCL 211.27a(7)(s), took effect which allows for a transfer of residential property between relatives of the 1st degree without uncapping property tax values. The new law is essentially an exemption to what con…
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Categories: Real Estate
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