What are prorated property taxes?

In the state of Michigan, property taxes are paid in advance of year they are due. Therefore, the number of months that have been paid in advance by the seller will be collected by from the buyer at closing.

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What can you tell me about City of Detroit property taxes?

Detroit property taxes can be varied and substantial. However, all of the properties that we select are pre-screened for taxes to make sure your investment will cash flow.

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Do you offer Detroit property management?

We work with an established property management company, which has an excellent track record of dealing with investment properties in the city of Detroit. They are highly recommended and we liaise with them regularly.

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What is the rental per month for the properties?

The average rent for a 3 / 4 bedroom 1 / 2 baths homes in the city of Detroit range from $700-$1,100 a month.

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What is the rental market like in Detroit?

The rental market for landlords at the moment is buoyant and there are no shortages of tenants. There is a substantial demand from families seeking good-quality properties to rent.

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What houses are easiest to rent?

The easiest type of property to rent is 3 bedroom / 1 bath or 4 bedroom / 2 bath, brick built detached properties in carefully selected Detroit neighbourhoods.

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How do I buy one of your properties?

Browse the property you would like to purchase. Click on the “RESERVE” button to fill out the reservation form and fax us the completed form with a copy of your proof of funds.

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What is “proof of funds”?

Proof of funds is a copy of a bank statement or any statement proving that you have enough money to complete the purchase of the property, which is submitted with the reservation agreement. This is customary and necessary for all real estate transactions in the United States.

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How is property ownership transferred in the state of Michigan?

In the state of Michigan, the conveyance of property is conducted by an Attorney or state licensed Title Insurance Company. They handle the entire transaction including all of the paperwork, title insurance, registering the transfer and the transacting the funds.

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What are closing costs?

Closing costs is a general term for all fees associated with conveying/transferring/closing on the property. The fees for Detroit, Michigan properties are generally about $2,000.

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