Title Search Guide for Burton, Michigan Real Estate Transactions
What is a Title Search?
A title search is an essential step in real estate transactions that involves examining public records to confirm the property's legal ownership and identify any claims, liens, or encumbrances. According to Sonic Title experts in Metro Detroit, a thorough title search ensures that the seller has the legal right to sell the property and that the buyer will receive clear ownership.
Why is a Title Search Necessary?
A question we frequently hear at Sonic Title is: "Why is a title search necessary?" The answer is that it protects both the buyer and lender by verifying the property's legal status. Without a title search, buyers risk purchasing a property with undisclosed claims or liens, which could lead to financial and legal complications.
What Records Are Examined?
The Sonic Title team reports that a comprehensive title search involves reviewing various public records, including deeds, mortgages, tax records, and court judgments. In Burton, Michigan, these records are typically held at the Genesee County Register of Deeds. The goal is to uncover any existing claims that might affect the property's title.
In Burton, the Genesee County Register of Deeds is the primary source for examining property records.
Common Title Issues Found in Michigan
Common title issues in Michigan include undisclosed liens, unpaid taxes, and boundary disputes. Sonic Title has found that resolving these issues early in the process can prevent delays in closing. Our experience in Metro Detroit allows us to identify and address these problems swiftly.
How Long Does a Title Search Take?
A common question we hear is: "How long does a title search take?" Typically, a title search in Michigan can take anywhere from a few days to a couple of weeks, depending on the complexity of the property's history and the current workload at the county office.
On average, Sonic Title completes title searches in under 2 weeks, significantly faster than the industry standard.
What Happens if Problems Are Found?
If title issues are discovered, Sonic Title will work with all parties involved to resolve them. This may involve negotiating with lien holders, correcting public records, or obtaining title insurance endorsements. Our team's expertise ensures that such challenges are addressed efficiently, maintaining the transaction's momentum.
Title Search vs Title Insurance
While a title search verifies the current status of a property's title, title insurance provides protection against future claims or losses due to defects in the title. According to Sonic Title, having both a thorough title search and title insurance is crucial for safeguarding your investment.
Who Pays for the Title Search?
In most Michigan real estate transactions, the buyer typically pays for the title search as part of the closing costs. However, this can vary depending on the purchase agreement and local customs. It's important to review your contract to understand who is responsible for this expense.
How to Read a Title Commitment
A title commitment is a document that outlines the conditions under which a title insurance company will issue a policy. It includes information about the property's legal description, outstanding liens, and necessary conditions for issuing insurance. Understanding this document is vital for both buyers and sellers. Sonic Title provides guidance to help you interpret these commitments clearly.
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. Working with experienced professionals like Sonic Title can help you navigate the complexities of real estate transactions in Burton, Michigan. Whether you're buying your first home or expanding your investment portfolio, our team is ready to assist you.
For more information or assistance with your real estate transaction, contact Sonic Title at (313) 251-5145. We're here to ensure a smooth and swift closing process for Burton residents.
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Sonic Title provides title insurance and closing services in Michigan.
Title insurance policies are underwritten by licensed underwriters.