Michigan Title Insurance Rate and Transfer Tax Calculator

Michigan State flagEasily calculate the Michigan title insurance rate and transfer tax for 1 - 4 residential properties. The seller usually pays the deed transfer taxes in Michigan, although, the payment is dictated by the sales contract. The title search and examination fees are included in the title insurance premium in Michigan. Title insurance rates are filed with the Commissioner of Insurance. The seller customarily pays for the owner's policy and the purchaser pays for the loan policy. Please send me an E-mail if you see an error or want to make a comment.


  Michigan Title Insurance & Transfer Tax Calculator
  Selling price of property  
  Mortgage Amount  
  Transfer & Recordation Tax
  State Transfer Tax
  County Transfer Tax
  Title Insurance
  CFPB Owner's Title Policy Disclosure Calculation
  Basic Owner's Policy (Actual Premium)  
  Simultaneous Loan Policy (Actual Premium)  
  Stand-alone Loan Policy (Actual Premium)  
  CFPB - Owner's Policy Disclosed Amount  
  Title Insurance Premium Adjustment  
  TOTAL Title Insurance Premium  
  Title Insurance Endorsements
  ALTA 4-06 Condominium 0  
  ALTA 5-06 Planned Unit Development 0  
  ALTA 22-06 Location 0  
  ALTA 25-06 Same As Survey 0  

Seller closing costs in Michigan

Title insurance rates must be filed and approved by the Michigan Insurance Bureau. The cost for title insurance policy can vary between title insurers, however, due to competition, the cost difference is minimal. Read more about Michigan title insurance

The home seller typically pays the real estate transfer taxes. The state tax is calculated at $3.75 for every $500 of value transferred and the county tax is calculated at $0.55 for every $500 of value transferred.

In addition to the cost of the title insurance and transfer taxes, the seller can also incur a closing (settlement) fee, lien release tracking fee, over night mailing fees, payoff processing fee, and processing fee. The fees are approximately $700. Other negotiated costs that can be incurred are seller paid closing costs, home warranty, pest inspection, real estate agent commission etc.

The property taxes will be prorated at settlement. Sellers will not pay the buyer's real estate taxes and the buyer will not pay the seller any additional taxes to the home seller. If the property taxes have been paid and the buyer will occupy the home during the prepaid tax period, the prepaid taxes will be reimbursed to the seller. Use the property tax calculator to determine the tax proration

Can the seller rent back the house after settlement?

Fannie Mae, Freddie Mac (conventional mortgages) and FHA require owner occupant home buyers to move into a financed property within 60 days of settlement (close of escrow) to meet owner-occupancy requirements.

The fine print in the settlement papers gives the lender the right to initiate foreclosure proceedings against the borrower for failing to take occupancy.

Rent back agreements are great for sellers, but can be dangerous for the home buyer. What if the seller/tenant damages the property? And will the home owner's insurance company cover a claim? What if the seller decides to remain in the home longer than agreed? Rent back agreements should only be written by an attorney, and should be avoided if possible.