What You Should Know About the Home Closing Process in Michigan
Attorney Adam Zuwerink recently completed an interview for MichiganHomes.com about the real estate closing process in Michigan. Unlike many other states, Michigan does not require an attorney be involved with residential homes sales. But even though Michigan real estate brokers and title companies handle most residential closings, there is still a role to play for attorneys – especially when dealing with such things as multiple owners, easements and zoning issues.
Following is an excerpt from the interview:
Is there a common misunderstanding that you’ve noticed potential sellers and buyers have about the process?
From a big picture perspective, I have found buyers and sellers do not take the time to understand the paperwork before they sign. Both buyers and sellers should ask for everything (purchase agreement, title work, closing documents) at least a day in advance so it can be read and understood without time pressure.
What is something about buying or selling a home in Michigan that most people aren’t aware of that they should know?
Everything is negotiable (even the real estate broker’s commission). If something doesn’t feel right about an answer that you have been given, do not accept, “That’s just the way we always do it” as an answer. I have seen many incorrectly signed forms and unintended consequences as a result.
The entire interview is available at: http://www.michiganhomes.com/articles/what-you-should-know-about-the-home-closing-process-adam-zuwerink