Selling Michigan Blog

If you're holding off on buying a home because you think prices are too high or mortgage rates will drop, you might want to consider the opportunity cost of waiting. While it may seem like a safer choice to keep your down payment in the bank or invest it elsewhere, the reality is that homeownership provides a powerful wealth-building advantage , thanks to leverage. While homebuyers may not approach their purchase with the same mindset as an investor, it's important to recognize that a home often becomes the largest asset they own. Comparing the potential wealth position of alternative investments, such as CDs or stocks, versus homeownership highlights the financial impact of delaying a purchase and the long-term benefits of building equity. Let's compare what happens when you put $40,000 into different investment options over the next five years :   CD Stocks Home Cash to Invest $40,000 $40,000 ...

When selling a home, full transparency is key. Seller disclosures provide potential buyers with crucial information about the condition of the property, ensuring a fair and informed transaction. Understanding what must be disclosed and why it matters can help protect both buyers and sellers from unexpected issues down the road. Seller disclosures are legal documents that outline any material defects in the property such as issues that could negatively impact its value or safety. While specific disclosure requirements vary by state and local law, common disclosures include: Past or present structural defects Completed repairs or renovations Natural hazards (flood zones, earthquake risks, etc.) HOA rules and restrictions Land-use limitations Missing essential systems or features Prior property damage Any known deaths on the property (where required by law) Seller disclosures are important and serve a dual purpose: For Buyers: They help potential buyers assess the pro...

When working with a real estate agent, it's important to understand the level of responsibility they have toward you as their client. In almost all cases, when a seller lists their home with an agent, an agency relationship is formed , meaning the agent owes the seller a fiduciary duty - a high level of care and loyalty. The same can apply to buyers when they enter into an agency agreement with their agent. However, some agents may work with buyers without an agency relationship , which means they are not required to act as fiduciaries. Since each state determines its own agency laws , it's essential to know what kind of representation you're receiving. Reasonable Care: The Basic Standard At a minimum, all real estate agents must provide reasonable care , meaning they must perform their job competently and ethically. This includes: Providing accurate information about the market Assisting with paperwork and transaction details Meeting deadlines and...