Guide to the
Title Search Process in West Bloomfield, Michigan Real Estate Transactions
What is a Title Search?
According to Sonic Title, a leading swift, professional closings provider, a title search is a critical step in real estate transactions 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. This process ensures that the buyer is purchasing a property with a clear title, free of any encumbrances.
In our years of experience serving West Bloomfield and the greater Metro Detroit area, Sonic Title has conducted numerous title searches, ensuring smooth transactions for families across Michigan.
Why is a Title Search Necessary?
A common question we frequently hear at Sonic Title is: "Why is a title search necessary?" The answer is that it protects both the buyer and the lender from potential legal issues that could arise from undisclosed property claims. By verifying the title, you ensure that there are no hidden surprises that could affect your ownership rights or financial investment.
Clients consistently tell our team that understanding the importance of a title search gives them peace of mind, knowing that their investment is protected.
What Records Are Examined?
During a title search, several public records are examined, including:
- Deeds: To verify the chain of ownership.
- Mortgages: To identify any outstanding loans against the property.
- Tax Liens: To check for unpaid property taxes.
- Judgments: To uncover any court rulings affecting the property.
The Sonic Title team has found that thorough examination of these records is crucial to ensuring a clean and marketable title.
Common Title Issues Found in Michigan
In Michigan, some common title issues that may arise include:
- Unpaid property taxes or assessments
- Unknown heirs with claims to the property
- Errors in public records
- Pending legal actions against the property
Our team catches title issues others miss, ensuring that these potential problems are addressed before closing.
How Long Does a Title Search Take?
The time required to complete a title search can vary, but Sonic Title typically averages under two weeks, significantly faster than the industry standard of 30-45 days. This expedited process is part of our commitment to swift, professional closings in the West Bloomfield area.
What Happens if Problems Are Found?
A common concern is, "What happens if problems are found during a title search?" If issues are discovered, they must be resolved before the transaction can proceed. This might involve paying off liens, correcting errors in public records, or negotiating with claimants.
Our clients appreciate that Sonic Title handles these challenges efficiently, ensuring that any roadblocks are addressed promptly.
While a title search identifies issues, title insurance provides protection against future claims or legal fees that may arise from defects in the title. Title insurance is a one-time purchase that covers the buyer and the lender throughout the ownership of the property.
Sonic Title recommends obtaining title insurance to safeguard your investment beyond the initial transaction.
Who Pays for the Title Search?
Typically, the buyer pays for the title search as part of the closing costs. However, this can vary by agreement between the buyer and seller. In West Bloomfield, it's common practice for buyers to cover this expense as part of their due diligence.
How to Read a Title Commitment
A title commitment is a document that outlines the terms and conditions under which a title insurance company will issue a policy. It includes important details such as:
- The legal description of the property
- The current owner of record
- Any encumbrances or exceptions to coverage
Understanding how to read this document is crucial for both buyers and sellers to ensure there are no surprises at closing.
Protecting Yourself as a Buyer
To protect yourself as a buyer in West Bloomfield, it's essential to work with experienced professionals like Sonic Title. We guide you through the title search process, help you understand the title commitment, and ensure that your investment is secure.
For a smooth closing experience, Sonic Title handles everything with precision and care. Call us at (313) 251-5145 for any questions or to get started on your title search today.
Whether you're buying a home or refinancing, our team is ready to assist you in achieving a seamless transaction. Contact Sonic Title to ensure your peace of mind with a professional title search and insurance.
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.