WHAT IS A TRANSFER TAX?
All residential home sellers in the state of Michigan pay a transfer tax at the time of sale. The tax is calculated on the percentage of the sales price. However, based on Michigan law, some sellers may qualify for an exemption. If certain qualifications are met, we can recover these funds for you.
I RECEIVED A LETTER IN THE MAIL FROM YOU SAYING I’M ELIGIBLE FOR A TAX RECOVERY. HOW DO YOU KNOW I’M ELIGIBLE?
You have been contacted because our records show that there was a decline in the State Equalized Value (SEV) of your previously owned property. Please contact us so we can look into this further for you.
WHY DIDN’T MY REALTOR OR TITLE COMPANY CATCH THIS?
Neither your realtor nor the title company did anything wrong. According to Michigan Law, every residential home seller is imposed with a transfer tax at the time of sale. The realtor and title company were simply abiding by the State Law of Michigan.
WHAT IF I MADE A PROFIT ON THE SALE OF MY HOME? CAN I STILL QUALIFY FOR A REFUND?
Yes, you can still qualify for a refund even if you made a profit on the sale of your home.
DO I STILL QUALIFY FOR A REFUND IF THE HOME WAS RENTED DURING THE YEAR I SOLD IT?
No, the home must have been maintained as your principal residence. Rental properties do not qualify for a refund.
IS THERE A DEADLINE FOR FILING?
The Statute of Limitations for filing for a transfer tax refund is 4 years and 15 days from the date of sale.
WHAT DO YOU NEED FROM ME TO BEGIN THE PROCESS?
We will send you two single page documents to sign and that’s it! We take care of the rest.
HOW LONG DOES IT TAKE TO RECEIVE A REFUND CHECK?
It takes approximately 6-8 weeks to receive a check from the time we file your petition.
To review Michigan legislature pertaining to the Real Estate Transfer Tax refund, feel free to visit the Michigan Legislature website for more information.
You may Contact Us with the property address you sold for a free evaluation.