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  • Mi Offer To Purchase Real Estate - Western Wayne Oakland County

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Ted in the County, Michigan, described as follows: , being known as . The property includes all buildings; gas, oil and mineral rights owned by Seller; plumbing, heating and electrical fixtures; built-in appliances; water softener (unless rented); water pumps and pressure tanks; stationary laundry tubs; all television antennas, rotors and any mechanical controls; window shades, shutters, blinds, curtain and drapery rods and all window treatments including curtains and drapes; attached floor cove.

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The short answer to can you back out of a house offer is that yes, you can.

County transfer tax is payable at the rate of $. 55 per $500.00 ($1.10 per $1,000) consideration. State transfer tax is payable at the rate of $3.75 per $500.00 ($7.50 per $1,000) consideration.

If a judgment of possession is granted, the buyer has 90 days to redeem the property if less than 50% of the purchase price has been paid or 6 months to redeem if 50% or more of the purchase price has been paid. The redemption amount is the amount that is past due. MCL 600.5744(4).

MICHIGAN REAL ESTATE TRANSFER TAX If the value of the real estate transferred is $100.00 or more, payment of State and County transfer tax is required. Rate of County tax = . 55c for each $500 or fraction thereof. Rate of State tax = 3.75 for each $500 or fraction thereof.

The seller of the home is typically responsible for the payment of this tax and it is bundled into the transaction costs called closing costs. Transfer tax is typically $1.10 for every thousand dollars of the purchase price.

Seller closing costs in Michigan The home seller typically pays the real estate transfer taxes. The state tax is calculated at $3.75 for every $500 of value transferred and the county tax is calculated at $0.55 for every $500 of value transferred.

County transfer tax is payable at the rate of $. 55 per $500.00 ($1.10 per $1,000) consideration. State transfer tax is payable at the rate of $3.75 per $500.00 ($7.50 per $1,000) consideration.

The Michigan Supreme Court has held that these options to purchase, or “options” as they are commonly referred, are “simply a contract by which the owner of the property agrees with another that he shall have a right to buy the property at a fixed price within a specified time.”[1] Conceptually, options seem fairly ...

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232