Real estate and mortgage
Michigan tax uncapping, closing deadlines, lead response, the dead database, and what a brokerage can see coming. Written for agents, teams, brokers and loan officers.
3 posts
· 8 min read
Michigan property tax uncapping: what a buyer pays
When a Michigan house changes hands the taxable value uncaps to half the sale price the year after. Here is the arithmetic, and what it does to the bill.
· 5 min read
Michigan Property Transfer Affidavit: deadline and penalty
The Michigan Property Transfer Affidavit is due 45 days after closing. Late, it runs $5 a day: $200 cap on a home you live in, $4,000 on one you do not.
· 5 min read
How accurate is a Zestimate? Zillow's own error, in dollars
How accurate is a Zestimate? Zillow's own figure: 1.74% median error on listed homes, 7.2% on homes that are not. On $400,000 that is a $28,800 band either way.