Home Sale Calculator in Michigan

Question 1

Who pays closing costs in Michigan?

Accepted Answer

Both the parties i.e., the buyer and the seller have to pay their respective closing costs in Michigan. Seller closing costs mainly include agent commissions, home inspection, and some other fees, all of which could sum up to 5%-10% of the property’s sale price.

The buyers have to pay their closing costs as well which are mostly mortgage-related and could sum up to 3%-4% of their loan amount.

Question 2

Do sellers pay closing costs in Michigan?

Accepted Answer

Yes, sellers do pay closing costs in Michigan. If you are a home seller in Michigan then you can expect to pay anywhere between 5%-10% of your home’s sale price as of closing costs.
However, you can save thousands of dollars by listing your home on the Michigan MLS with Houzeo’s Flat Fee MLS Michigan packages.

Question 3

Who pays transfer tax in Michigan?

Accepted Answer

The transfer tax in Michigan is usually paid by the seller but the arrangement can be negotiated with the buyer.

Question 4

What does the seller pay at closing in Michigan?

Accepted Answer

As a home seller in Michigan, your closing costs will mainly include real estate agent commissions, outstanding amounts owed on the property, prorated property taxes, settlement fee, title search, municipal lien search, HOA estoppel, documentary stamps on the deed, title insurance, etc.

Question 5

How do you calculate the seller's closing costs in Michigan?

Accepted Answer

To calculate seller closing costs all you need to do is input the relevant details in Houzeo’s Closing Costs Calculator and you will have your estimated closing costs with just a few clicks.

Question 6

How much does a home inspection cost in Michigan?

Accepted Answer

The average cost of home inspection in Michigan ranges between $500-$1000.

Home Sale Calculator in Michigan

Home Sale Estimate Calculator in Michigan

Frequently Asked Questions

Closing Costs Worksheet