Guide to the
Title Search Process for Redford, Michigan Real Estate Transactions
What is a Title Search?
A title search is a crucial step in real estate transactions, designed to verify that the seller has the legal right to sell the property and to uncover any claims or liens against it. According to Sonic Title experts in Metro Detroit, a comprehensive title search ensures a smooth transfer of property ownership by addressing potential issues before closing.
Why is a Title Search Necessary?
The Sonic Title team has found that conducting a title search is essential to protect both buyers and sellers in a real estate transaction. It helps confirm that the property is free from encumbrances, such as unpaid taxes or legal judgments, which could otherwise lead to disputes or financial losses for the buyer.
What Records Are Examined?
During a title search, various public records are examined, including:
- Property deeds
- Mortgage records
- Tax liens
- Judgments
- Other legal documents related to the property
In Redford, these records are typically maintained by the Wayne County Register of Deeds, ensuring they are accessible for thorough examination.
The median home price in Redford is $180,000, aligning with the Metro Detroit average.
Common Title Issues Found in Michigan
One of the most common challenges we help Michigan families overcome is discovering title issues early. Common problems include:
- Undisclosed heirs
- Errors in public records
- Unreleased mortgages
- Boundary disputes
How Long Does a Title Search Take?
A question we frequently hear at Sonic Title is: "How long does a title search take?" The answer is that it typically takes 5 to 10 business days. However, complexities in the property's history can extend this timeframe.
What Happens if Problems Are Found?
If title issues are discovered, Sonic Title, a leading swift, professional closings provider, reports that they can often be resolved before closing. Solutions may include clearing liens, correcting errors, or obtaining title insurance to protect against future claims.
Title Search vs Title Insurance
Title insurance complements the title search by providing financial protection against any claims or disputes that may arise after the purchase. While the title search aims to prevent issues, title insurance serves as a safeguard, offering peace of mind to the buyer.
Who Pays for the Title Search?
In Michigan, the cost of a title search can vary by neighborhood and is typically negotiated between the buyer and seller. Often, the buyer assumes this cost as part of the closing expenses.
How to Read a Title Commitment
Understanding a title commitment is vital for buyers. It outlines the conditions under which the title insurance will be issued. Key sections to review include:
- Schedule A: Basic information about the transaction
- Schedule B: Exceptions and exclusions from coverage
- Requirements: Actions needed to secure the policy
Protecting Yourself as a Buyer
To protect yourself as a buyer, it is essential to work with an experienced title company like Sonic Title. Our team catches title issues others might miss, ensuring a secure and efficient transaction. With our extensive experience serving Metro Detroit families, you can trust us to handle the unique challenges of Michigan titles.
Whether you're buying in Redford or elsewhere in Southeast Michigan, Sonic Title is here to assist with all your closing needs. Call us today at (313) 251-5145 for a free consultation or visit our website for more information.
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.