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Grosse Pointe Park : Real Estate Advice

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  • Local Info2
  • Home Buying7
  • Home Selling0
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Activity 10
Fri Jul 8, 2016
Ganesansubbanaidu answered:
at the circuit court within Oakland county ferndale
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Sun Nov 9, 2014
Megan Mathews answered:
You can do a couple of things. A Realtor will be able to tell you the estimated tax's on a current property. Or you contact the City of Grosse Pointe Park at 313-822-6200 or go to GPP's municipality website to get access to the city clerk.
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Tue Apr 8, 2014
funphantom asked:
I'm looking for multiplexes in south east michigan. recently, whenever i check the box to filter out everything besides multi-family properties, it eliminates ALL the properties, and…
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Sat Oct 19, 2013
Steve asked:
This question was asked from
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Wed Sep 11, 2013
Chad Evans answered:
Your welcome to call our office.. If it is any foreclosure in Grosse Pointe, then the property could be assigned to our office. We would contact the bank directly for you and discuss the plan of action. Your welcome to call our office anytime @ 313-824-5555 ... more
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Sat Jan 22, 2011
Andy Hargreaves answered:
I can offer some insight -- as I list bank owned homes for Fannie Mae and other banks.
The answer is -- it depends.
If it is a Fannie Mae or Fannie Mae backed home, the bank will almost always pay for the de-winterization and then winterizing it again. After that, you're on your own to do it yourself after ownership.

Freddie Mac will make you pay for the cost of doing so, with the exception being in cities with a C of O requirement, you may be able to time your inspection for purchase during the period that it is on to save some money.

Most banks will charge you a fee to do it and use one of their contractors for liability purposes. You can try to make it part of your offer, so see if your agent has any luck getting the asset manager at the bank to ok such fees. Chances are if you made a good, solid offer you'll have better luck with them being cooperative for this and other repairs that may be necessary.
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Tue Sep 21, 2010
Lisa Thorik Team answered:
The area you should give most consideration and attention to is the kitchen. Truly the heart of the home and the most important renovation/budget consideration. The kitchen has the potential to earn far more in market value for your home, after costs, than any other room in the house. It does make a difference whether you are just moving in and want to enjoy the kitchen for yourself, or you are prepping for sale. If you are trying to sell, the objective is to make your home's kitchen the best it can be compared to your competition. Go see the other homes in the same price range you believe your home will be priced. Look at the materials being used for counter tops, flooring, cabinets. Lighting and appliances are also very important choices. After you have a general idea, both major do-it-yourself chains offer kitchen design remodeling services. Measure carefully all dimensions, including the placement of windows and doors.It may save time to call first and schedule an appointment rather than drop in. Together with the designer they will make a supplies list and cost projection. With this plan you can compare the market value of your home without the improvement and with the improvement and compare whether the profit improves the market value or not. After the kitchen would be the bathroom renovation and addition, returning up to 80% or more of the cost. Many homes can be greatly improved just with thorough cleaning and de-cluttering as a first step, followed by fresh new paint and organized staging using your own things as much as possible. Curb appeal is also crucial, so don't leave the yard out of your budget. Front entry way being especially important.
If you are doing any work yourself consult with the building code inspector for your area and be sure all work meets code requirements and has permits. Nothing will derail your profits faster than a permit dispute when you try to sell. Hope this helps.
Lisa Thorik San Diego CA
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Wed Dec 9, 2009
Gp answered:
Sat Mar 21, 2009
Paul McIntyre answered:

The 40% caught my attention because that is the amount of the reduction for the Homestead Exemption. Is it possible the Homestead exemption had expired on the property when you purchased it? If that's the case, be sure that you have it filed as soon as possible.

If that's not the case, you should consider hiring an attorney and getting others involved. If what you describe is true, it's clearly a violation of the standards of assessment for the State of Michigan. I suspect, however, that the explanation you received wasn't complete.

As for using your purchase price and the appraisal, the short answer is yes BUT your tax bill isn't figured out that way. We simplify our explanation of what SEV is to say that it's about 1/2 of the likely sale price of the home, but the state formula is much more complicated than that. If you really want to dig into this, the link below should prove helpful.
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