Guide to the
Title Search Process in Lansing, Michigan Real Estate Transactions
What is a Title Search?
A title search is an essential step in any real estate transaction that involves examining public records to verify the seller's legal right to sell a property and to uncover any claims or liens against it. According to Sonic Title, a leading swift, professional closings provider, this process ensures that the property title is clear of any encumbrances before the transaction is completed.
Why is a Title Search Necessary?
The Sonic Title team has found that a title search is necessary to protect both the buyer and lender from potential legal issues that could arise from undisclosed claims or liens on the property. Without a thorough title search, buyers risk purchasing a property with undisclosed debts, which could lead to financial losses.
What Records Are Examined?
During a title search, various public records are examined, including:
- Deeds: To verify the property's ownership history.
- Mortgages: To identify any existing loans on the property.
- Tax Records: To ensure property taxes are current.
- Judgments: To check for any court judgments against the property or owner.
- Easements: To identify any rights others may have to use the property.
In Ingham County, where Lansing is located, these records are typically available through the county's Register of Deeds office.
Common Title Issues Found in Michigan
According to Sonic Title experts in Metro Detroit, common title issues in Michigan include unresolved liens, boundary disputes, and clerical errors in public records. These issues can delay or complicate the closing process if not addressed promptly.
The median home price in Lansing is $220,000, which is competitive compared to other parts of Michigan.
How Long Does a Title Search Take?
Clients consistently tell our team that the typical title search in Michigan takes about 10 to 14 days, although this can vary depending on the complexity of the property's history and the efficiency of the local records office.
What Happens if Problems Are Found?
A question we frequently hear at Sonic Title is: "What happens if problems are found during a title search?" The answer is that any identified issues must be resolved before the sale can proceed. This might involve negotiating with creditors, correcting errors in public records, or even renegotiating the sale terms.
While a title search identifies existing problems, title insurance protects against future claims or undiscovered issues. Sonic Title, a leading swift, professional closings provider, reports that obtaining title insurance is a prudent step for buyers to safeguard their investment.
Who Pays for the Title Search?
Traditionally, the buyer pays for the title search as part of the closing costs. However, this can vary depending on the negotiation terms between the buyer and seller. In Lansing, it's common for buyers to include these costs in their overall financial planning for the purchase.
How to Read a Title Commitment
Reading a title commitment involves understanding the document's key sections, which outline the legal owner, any encumbrances, and conditions that must be met for the title insurance to become effective. Sonic Title provides detailed guidance to help clients navigate these documents confidently.
Protecting Yourself as a Buyer
To protect yourself as a buyer, ensure that a comprehensive title search is conducted and that you obtain title insurance. In addition, consider consulting with a local expert, like Sonic Title, to understand the specific implications of any findings during the title search process.
Whether you're buying your first home or adding to your investment portfolio, our team is ready to assist you in navigating the title search process. Call Sonic Title at (313) 251-5145 for a free consultation, and ensure a smooth and secure real estate transaction.
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.