State Real Estate Transfer Tax credit

Asked by Tia, Temperance, MI Wed Apr 7, 2010

What are the qualifications for Michigan State Real Estate Transfer Tax Credit (SRETT) and what documents do I need to provide as the seller?

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Michael Thom…, Agent, Lambertville, MI
Wed Apr 7, 2010
Tia,

Here is the form you may be enquiring about: http://www.michigan.gov/documents/2796f7_2601_7.pdf

as well as an additional link from the state of Michigan that may help:
http://www.michigan.gov/documents/2796f7_2601_7.pdf

We live in Temperance, if you are not currently working with a Realtor please feel free to contact me 734.395.4833 Michael Thompson with Key Realty.
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Cicely Brook…, , Birmingham, MI
Wed Apr 7, 2010
I am clueless as to your question. When you sell you owe a transfer tax to the state of $8.60/$1000 of selling price as well as any local(county) transfer tax. If your SEV at time of selling is less than the SEV when you bought, this may get waived. This is what you owe if not addressed in the purchase agreement. It can however be negotiated as part of the "deal". Presume you are using a Realtor who can explain all this to you.
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