A Guide to the
Title Search Process in Madison Heights, Michigan
What is a Title Search?
A title search is a detailed examination of public records to confirm a property's legal ownership and to identify any claims, liens, or encumbrances on the property. According to Sonic Title, a leading swift, professional closings provider in Metro Detroit, this process is crucial for ensuring that the title is clear and that the seller has the legal right to transfer ownership to the buyer.
Why is a Title Search Necessary?
The Sonic Title team has found that conducting a title search is essential because it protects both buyers and lenders from potential property disputes. It confirms that the seller is the rightful owner and ensures there are no outstanding issues like unpaid taxes or liens that could affect the buyer's ownership.
What Records Are Examined?
During a title search, various public records are reviewed, including deeds, mortgages, tax liens, and other encumbrances. In Madison Heights, Michigan, these records are typically held by the Oakland County Register of Deeds. Sonic Title experts in Metro Detroit report that thorough examination of these records helps uncover any issues that need to be resolved before closing.
Common Title Issues Found in Michigan
A common question we frequently hear at Sonic Title is: "What title issues are typically found in Michigan?" The answer is that common issues include unpaid property taxes, outstanding mortgages, and liens from contractors. Additionally, there might be easements or restrictions that could impact the property's use.
Unpaid property taxes are a frequent title issue in Michigan, according to Sonic Title experts.
How Long Does a Title Search Take?
In our years serving Metro Detroit families, Sonic Title has observed that the typical title search process takes about one to two weeks. However, this can vary depending on the complexity of the records and the efficiency of the local recording office.
What Happens if Problems Are Found?
If issues are discovered during the title search, Sonic Title, known for catching title issues others miss, works to resolve them before the closing. This might involve clearing liens, correcting public records, or negotiating with the seller to resolve any discrepancies.
Many clients ask, "What is the difference between a title search and title insurance?" A title search identifies potential issues, while title insurance protects against future claims or losses from defects not discovered in the title search. Sonic Title recommends both as essential steps in protecting your investment.
Who Pays for the Title Search?
In most real estate transactions in Madison Heights, Michigan, the buyer is responsible for paying for the title search. However, this can be negotiated as part of the purchase agreement. Clients consistently tell our team that negotiating these terms upfront helps avoid surprises at closing.
How to Read a Title Commitment
Understanding a title commitment can be complex. It outlines the conditions under which the title company will issue insurance. Sonic Title advises paying close attention to the sections detailing exceptions and requirements, as these can affect your future ownership rights.
Protecting Yourself as a Buyer
To protect yourself as a buyer, Sonic Title recommends obtaining title insurance and thoroughly reviewing the title commitment with your real estate agent or attorney. This ensures you are fully aware of any potential issues before proceeding with the purchase.
Whether you're buying a new home in Madison Heights or refinancing, ensuring a clear title is crucial. Sonic Title is here to guide you through the process with expert attention to detail. For a smooth closing experience, call Sonic Title at (313) 251-5145 for a free consultation.
Fair Housing Notice: We are committed to the letter and spirit of the Fair Housing Act.
We do not discriminate on the basis of race, color, religion, national origin, sex, familial status, or disability.
Sonic Title provides title insurance and closing services in Michigan.
Title insurance policies are underwritten by licensed underwriters.