If you are looking to buy a piece of Commerce Township real estate in Michigan you may not understand all the real estate lingo. So here is your little Commerce Township real estate directory. The Real Estate Glossary for the H’s is here to help you define what each word means if you happen to run across it and not know exactly what it’s saying.
Are you Looking to buy a home in the near future? Here are some buying tips if you have a Metro Detroit relocation in your future. Michigan relocation guide – highway drive time will explain how to buy a home and why drive time to and from work is something to think about. Whether you are buying a lake home or a regular home here are some Home buying tips when buying an Oakland County house
H HABENDUM CLAUSE - That part of the deed beginning with the words “to have and to hold,” following the granting clause and reaffirming the extent of ownership that the grantor is transferring.
HABITABLE - Being fit to live in. The residential landlord has an obligation to keep the leased premises in a habitable condition.
HEIR - A person who inherits under a will or a person who succeeds to property by the laws of descent if the decedent dies without a will (intestate).
HIGHEST AND BEST USE - That use which, at the time of appraising the property, is most likely to produce the greatest net return to the land and/or the building over a given period of time.
HIGH RISE - A popular expression for a condominium or apartment building generally higher than six stories.
HOLD HARMLESS CLAUSE - A clause inserted in a contract whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction.
HOLDOVER TENANT - One who stays on the leased premises after his lease has expired. The landlord normally has the choice of evicting the holdover tenant or permitting him to remain and continue to pay rent.
HOMEOWNER’S ASSOCIATION - A non-profit association of homeowners organized pursuant to a declaration of restrictions or protective covenants for a subdivision, a PUD, or a condominium.
HOMESTEAD- A home which is used as a personal residence.
HOTEL - A building or group of attached or detached buildings containing dwelling or lodging units in which 50 percent or more of the units are lodging units, usually distinguished by a front desk, dining and other common facilities.
HOUSE RULES - Rules of conduct adopted by a board of directors of a condominium and designed to promote harmonious living among the owners and occupants.
HUD - A federal cabinet department officially known as the Department of Housing and Urban Development.
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I hope this real estate glossary of the H’s when you when looking at Commerce Township real estate. If you are considering Selling your Michigan home upon retirement this article may help you. You may be considering moving closer to your kids or grandchildren. Or you may finally be achieving that dream of moving to a sunny spot. Whether it is a piece of Commerce real estate or any Metro Detroit home we have many sellers tips on the link on the right side of this page.
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Are you looking for Lakefront homes for sale in Waterford Michigan? Then you will be glad to know that there are 34 different lakes in Waterford Michigan to choose from. You have choices from small ponds to large public all sports lakes. If you are looking for smaller more exclusive lakes then Minnow Lake in Bloomfield MI or Mirror Lake in Bloomfield Hills Michigan. These two lakes are more of a large pond. They are better suited for swimming or getting out in a small boat like a kayak or row boat or paddle board for a little exercise.
Waterfront homes on Loon Lake in Wixom MI are either going to be more cottagey on the south side of the lake or bigger newer colonial homes on the north side of the lake. If you want an newer style home with all the amenities then you may want a home on the north side of the lake. If you have been looking at homes in both Livingston County and Oakland County you may want to do a little research on these two lakes Fonda Lake Waterfront Properties and Gosling Lake in Putnam Township Michigan
Remember we offer a buyers bonus when you use us as your realtor no matter whether it is a piece of Commerce Township real estate or any home in Southeastern Michigan