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People also ask
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Is it bad if there is no seller disclosure?
In general, a disclosure document is supposed to provide details about a property's condition that might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime. Selling a property "As Is" will usually not exempt a seller from disclosures.
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Does Michigan require a seller disclosure?
Before selling residential property in Michigan, a seller is required by law to tell the prospective buyer certain things about the property's physical condition. (This comes from the Michigan Seller Disclosure Act (1994).)
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Do you have to disclose if someone died in a house in Michigan?
Do you have to report a death in your home while selling real estate in Michigan? There is no duty to disclose death in Michigan. The state specifically list murder and suicide as examples on non-disclosure.
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Do realtors have to disclose death in a house in Michigan?
There is no duty to disclose death in Michigan.
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What does the seller's disclosure statement contain?
While the disclosure form will vary in format, it may contain the following: List of specific issues the homeowner must check off if the home has them. Questions about the property the seller must answer with “Yes,” “No” or “Unknown” Space to provide further explanation of the issue and if it was fixed.
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What is a seller statement?
If the property being purchased was a rental property, a Seller's Statement is required to declare that no individual was evicted before the sale. Helpful.
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Can you sue a previous homeowner for non-disclosure in Michigan?
Laws § 565.951.) (Also see Home Sellers in Michigan: Your Disclosure Obligations for more information.) If the seller intentionally misrepresents or withholds information on the disclosure statement, you may pursue legal action against them for fraud or misrepresentation.
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Is Michigan a disclosure state?
Michigan Seller Disclosure Act The Act specifically mandates that a seller in residen- tial real estate transactions involving between one and four residential dwelling units must disclose specific physical details about the conditions of the property held for sale.
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