Homestead in Ypsilanti, Mi

Ryan
Ryan
Home Buyer
Ypsilanti, MI

I'm thinking of buying a house in Ypsilanti, MI. the house is currently listed as 100% homestead. If I buy it will still be 100% homestead if I claim it as my primary residents or will it automatically be set to 0%?

Fri Oct 23 2009, 19:02 - Home Buying in 48198 - 2 answers
Helpful
 (0)  
Email Alerts
Send to a friend
Save
Report  
Answers (2)
David Wallner
David Wallner
Agent
Ann Arbor, MI

Ryan, Make sure that you know the correct status of the homestead exemption. Information in real estate web sites should not be taken as completely accurate. Municipalities can also change the status retroactively if they learn that the current owners do not have legal right to claim the exemption. Be cautious, hire a pro to help you. It could wind up saving you a big hassel later on.

David Wallner
Realtor, Accredited Buyer Representative, Graduate Realtor Institute, EcoBroker
734 649-2710

Sat Oct 24 2009, 02:44
Helpful
 (0)
Link to this answer
  Report
Missy Caulk
Missy Caulk
Agent
Ann Arbor, MI
FIRST ANSWER

If the property is currently homesteaded it transfers to the new owner. :)

Web Reference: http://AnnArborRealEstateTalk.com
Fri Oct 23 2009, 19:40
Helpful
 (0)
Link to this answer
  Report

Didn’t find what you were looking for? Ask a question!

More Q&A about Home Buying in 48198

View all »
David Wallner, Real Estate Pro in Ann Arbor, MI
Hi, I am looking at buying a house at around 30,000 cash in about a month or so. I like 1337 Duncan St.
Answered Sat Aug 15 2009, 22:11 by David Wallner in 48198
Read all 3 answers
Marilyn Harr…, Real Estate Pro in Gladwin, MI
The BEST deals...bank owned? Going to be foreclosed? Auctions? HUD homes?
Answered Mon Jun 29 2009, 16:00 by Marilyn Harrell in 48198
Read all 6 answers
Tony Grech, Real Estate Pro in 48170
What are the new qualifications for a jumbo loan in the Metro Detriot area? Is 5% down available?
Answered Tue May 12 2009, 05:04 by Tony Grech in 48198
Read the answer
jon, Real Estate Pro in Ann Arbor, MI
what is a short sale?
Answered Sun Apr 19 2009, 12:25 by jon in 48198
Read all 3 answers
Jackie O'Con…, Real Estate Pro in Boston, MA
Could someone please tell me if this house is a short sale?
Answered Sat Nov 29 2008, 08:37 by Jackie O'Connor in 48198
Read all 2 answers
View all Home Buying questions and answers in 48198 »
Search Advice
e.g., "foreclosure", "short sale", "mortgage"
e.g., "San Francisco, CA", "New York, NY"
SEARCH

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 43
Map these properties
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback