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 the state transfer tax and are entitled to a State Real Estate Transfer Tax (SRETT) Refund if they sold their property within the last 4 years.
Here are the requirements:
If you meet these requirements, you can obtain a refund of the state transfer tax you paid when you sold your home and you can do it yourself!
Simply fill out the refund application at the following link:
and submit it to the Michigan Department of Treasury. Do not forget to include the required documentation.
If you need help with the application or required documentation, call or email me, and I will walk you through the process, free of charge.