» Real Estate

Are you entitled to a State Real Estate Transfer Tax (SRETT) Refund? - UPDATED

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… Read More
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Categories: Real Estate

10 Questions to Ask When Purchasing a Condominium

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… Read More
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Categories: Real Estate

Top 10 Mistakes When Selling or Buying a Home

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… Read More
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Categories: Real Estate

New Property Tax “Uncapping” Exemption Will Help Keep Your Home, Vacation Property or Cottage in the Family

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… Read More
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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.

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… Read More
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Categories: Real Estate

NEW MICHIGAN LAW FOR TRANSFERRING RESIDENTIAL PROPERTY WITHOUT UNCAPPING PROPERTY TAX

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… Read More
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Categories: Real Estate