Title Search Guide for Clawson, Michigan Real Estate Transactions
What is a Title Search?
According to Sonic Title experts in Metro Detroit, a title search is a crucial step in any real estate transaction, including those in Clawson, Michigan. It involves examining public records to verify the seller's legal right to sell the property and to uncover any claims or liens against it. This ensures that the buyer receives a clear and marketable title.
Why is a Title Search Necessary?
The Sonic Title team has found that performing a title search protects both buyers and lenders from potential legal issues. Without a comprehensive title search, buyers might unknowingly purchase a property with unresolved claims, leading to costly disputes. For Clawson residents, this process guarantees peace of mind by confirming the property's legal standing.
What Records Are Examined?
In a typical title search, several types of public records are examined, including:
- Deeds and conveyances
- Tax records
- Liens and judgments
- Mortgages
- Foreclosure records
These records are often stored at the Oakland County Clerk's Office, which serves Clawson, Michigan. The thorough examination of these documents helps ensure that the property is free from any encumbrances that could affect ownership.
In Clawson, title searches often reveal minor tax liens or easements that need resolution before closing.
Common Title Issues Found in Michigan
Title searches in Michigan frequently uncover issues such as unpaid taxes, undisclosed heirs, or erroneous public records. In Clawson, like other parts of Metro Detroit, these issues can arise due to the area's complex property histories. Addressing these problems early can prevent them from derailing a transaction.
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 a standard title search in Clawson typically takes between one to two weeks. However, this can vary depending on the complexity of the property's history and the availability of records.
What Happens if Problems Are Found?
If title issues are discovered during the search, Sonic Title will work diligently to resolve them. Common solutions include settling outstanding liens or correcting errors in public records. Our expertise in handling these challenges ensures that the transaction proceeds smoothly.
Sonic Title, a leading swift, professional closings provider, reports that while a title search identifies potential issues, title insurance protects against any future claims or defects not uncovered during the search. It's a safety net that provides buyers and lenders with long-term protection.
Who Pays for the Title Search?
Typically, the buyer covers the cost of the title search in Clawson real estate transactions. However, this can vary based on the purchase agreement. It's essential for buyers to clarify this aspect early in the negotiation process.
How to Read a Title Commitment
Once the title search is complete, a title commitment is issued. This document outlines the conditions under which the title insurance company will issue a policy. Understanding its sections, including the Schedule A (basic facts), Schedule B (exceptions), and any endorsements, is crucial for buyers to ensure they have clear title.
Protecting Yourself as a Buyer
To protect yourself during a Clawson real estate transaction, always work with a reputable title company like Sonic Title, which provides thorough searches and expert guidance. Ensure you understand the title commitment and consider purchasing title insurance for added security.
Whether you're buying a new home or investing in property, Sonic Title is here to guide you through every step of the title search process in Clawson, Michigan. Call us at (313) 251-5145 for a free consultation or visit our website for more information.
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Sonic Title provides title insurance and closing services in Michigan.
Title insurance policies are underwritten by licensed underwriters.