Michigan Real Estate Forms

Michigan Real Estate Form

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Bounded by four of the Great Lakes, Michigan, derived from the Indian word meicigama is known to have the longest freshwater shoreline in the United States of America. Another little bit of trivia is that Michigan has the most number of recreational boats in the country.

The procedure in selling or purchasing real estate in Michigan is not so different from the procedures in other states. The same sales documents and seller disclosure forms, among others, that are required by law should be presented to buyers. These documents may differ in format based on the requirements of the state, but generally, these are the same in essence.

Sellers of properties in Michigan presently have the option of selling on their own or securing the services of a real estate agent or company. Those who opt to sell through agents still have the choice whether they want to secure the full – service package or the “fee-for-a-service” option. Recently, House Bill 4849, which would restrict licensed brokers from giving the consumer service options, has been drafted. Several sectors are lobbying against the passing of this bill as this would force buyers and sellers to pay for unwanted additional service. Presently, home sellers may opt to list their properties separately without having to avail of the services of brokers. Once House Bill 4849 is enacted, all sellers will be required to purchase the full service listing of the brokerage company.

Both buyers and sellers will be affected if the House Bill becomes a law, as, to cover for the additional costs the additional services would incur, the prices of real estate properties will, most likely, go up.

Sellers are required to execute and deliver a deed, complete with a description of the land, in order to pass title. This deed is officially recorded to establish ownership and provide notice of transfer to other buyers. Related Links: Selling a Home In Michigan

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State Specific Real Estate Forms