Expert answers from Michigan's trusted cash home buyers. Questions? Call (269) 389-9961 anytime.
Some cash buyers specialize in commercial real estate, but most residential cash buyers (including 7 Lakes Properties) focus on 1-4 unit residential properties and small mixed-use. For commercial properties (retail, office, industrial), contact commercial real estate investors or brokers who specialize in Michigan commercial transactions.
Homes that have been converted to commercial use (converted to office space, a bed and breakfast, or mixed use) may require rezoning to convert back to residential — or may sell better to commercial buyers. If the property is zoned residential but used commercially, you may have zoning violations that need resolution.
Yes — 7 Lakes Properties and many Michigan cash buyers regularly purchase duplexes, triplexes, and fourplexes. These are classified as residential real estate and follow residential purchase and financing rules. We evaluate these based on current income, condition, and comparative sales of similar units.
Residential (1-4 units): Michigan Transfer Tax applies, standard title process, shorter closing timeline. Commercial (5+ units or commercial use): may use different financing structures, due diligence periods are often 30-60 days, commercial title searches are more complex, and Michigan Transfer Tax still applies. Different buyer pools and transaction structures.
Commercial properties in Michigan are assessed at 50% of true cash value (same as residential) but are NOT eligible for the Principal Residence Exemption — meaning they pay the full millage including school operating levies that homesteads are exempt from. Commercial property taxes are typically 1.5-3x higher than comparable residential properties.
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