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When a real estate deal falls apart, the earnest money deposit often becomes the focus of disagreement. In Michigan, the outcome usually depends on the purchase agreement and how closely each party followed its terms. Knowing how these disputes work can help you...
When buying a home, buyers depend on sellers to provide accurate information about a property’s condition. One important detail sellers must disclose is the presence of mold. But what happens if a seller fails to disclose mold in Michigan? Understanding the potential...
In real estate transactions, sellers are typically responsible for delivering marketable titles. Still, buyers must verify and insist on cures when defects appear. If you are planning to purchase a property or in the middle of such a deal, understanding the legal...
Buying real estate is a major commitment that comes with a degree of risk. Buyers have to give up liquid capital when they deposit earnest money. They are also vulnerable after they negotiate a purchase agreement, as they typically have to complete the transaction...
Your home may be the largest single purchase you make in your lifetime. You will likely take 20-30 years to pay it off. Therefore, it is vital that you structure your purchase agreement properly. These are a few things you should look for in your real estate contract....
If you own your house or other properties, you need to plan what happens to your holdings in the future. Deciding how to distribute your real estate to your family serves both your interests and your family's. There are many ways to handle what happens to your home...
There are many aspects to buying a home that can be time-consuming and slow down your path to closing. One of those is a home inspection. However, no matter how frustrated you may be with the process, you should always get an inspection. Realtor.com explains that a...
When you have decided the time is right to purchase your very first home, you may find a property you love and eagerly want to make your offer to the seller. However, before moving too quickly, you should learn about the different things that may impact how you or...
When you buy a new home, your closing is the final step of the process. The Home Buying Institute explains that at closing, you, the seller, your mortgage lender representative, your title insurance company representative and your escrow agent all meet together to...
Michigan's Seller Disclosure Act requires a homeowner to reveal information about his or her property's condition to a potential buyer. If a seller fails to disclose a known material defect, a buyer has six years from the closing date to file a legal action alleging...