Farmington Hills Michigan Appraised vs Assessed Prices home questions picture

Farmington Hills Michigan Appraised vs Assessed Prices

Thomas Gilliam assessment , Blog , Farmington Hills , farmington hills appraisel Leave a Comment

Appraised and assessed prices are regularly mistakened for each other. As a buyer or home seller, it is useful to understand how they differ. Details on Farmington Hills Michigan appraised vs assessed prices is provided below. What Are Assessed Prices Localities require a property tax on residential real estate. The sum is derived from the tax rate multiplied by an assessed value of the real estate. Assessments are used only for measuring taxes and do not necessarily coincide with the market value. Every municipality formulates assessed value differently. They usually look at land area, interior features, and exterior features such …

Farmington Hills Michigan Homeowner Tax Advice

Farmington Hills Michigan Homeowner Tax Advice

Thomas Gilliam Blog , Farmington Hills , home owner , taxes Leave a Comment

The tax deadline is right around the corner! Do not miss out on money saving tax benefits of real estate ownership. The Farmington Hills Michigan homeowner tax advice in this blog may help with your tax returns. Look for the 1098 Form from Your Mortgage Company Interest paid on primary mortgages, second mortgages, home equity loans, and home renovation loans are often tax deductible. You will receive a mortgage statement, a Form 1098, from each mortgage company. It will detail amounts paid during the 2016 year. It may also reference amounts paid for mortgage insurance, which might be deductible if …

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Farmington Hills Michigan Real Estate Inspection Tips For Buyers And Sellers

Thomas Gilliam Blog , farmington hills , home inspection , home inspection tips , inspections Leave a Comment

A home inspection is an assessment of the building and all mechanical elements by a licensed professional. It normally includes a review of each visible aspect of the interior and exterior of a house. A certified home inspector has inspected many properties and is therefore familiar with all the features of home construction, utility systems, and how they all should function. Even a handy home buyer may not have the in depth knowledge of an experienced inspector. Farmington Hills Michigan real estate inspection tips for buyers and sellers can be found in this blog. Farmington Hills Michigan Real Estate Inspection …

Farmington Hills Michigan Home Equity Loan Options

Farmington Hills Michigan Home Equity Loan Options

Thomas Gilliam Blog , Farmington Hills , home equity , Uncategorized Leave a Comment

There are a few different types of home equity loans. Some may be a better alternative than others based on your situation, interest rates, and the reason for your home equity loan. The Farmington Hills Michigan home equity loan options detailed in this article may help you understand your options. Home Equity Loan Types Cash-out Refinance A cash-out refinance pays off your first loan and creates a new one. The new loan includes the amount of the old loan, the extra funds you are taking out and applicable settlement costs. Because you are replacing the old mortgage, rather than taking …