Transfer Tax waived if property meets these guidelines

This is a neat little nugget I picked up this week. I don’t know if this will work in any other states but in Michigan we have a .086% transfer tax. If the SEV of the house is lower now than when you purchased it then you are exempt from paying .075% of the transfer tax. This opens up a few possibilities on your short sales and can pad your spread a little bit more. I hope this helps.