Title Search Process for Birmingham, Michigan Real Estate
What is a Title Search?
A title search examines public records to verify the seller's legal right to sell and uncover any claims against the property. Conducting a title search is a crucial step in real estate transactions to ensure that the property is free from liens or other encumbrances. In Birmingham, Michigan, this involves a thorough review of documents filed with the Oakland County Register of Deeds.
Why is a Title Search Necessary?
The Sonic Title team has found that a title search is essential to protect all parties involved in a real estate transaction. By checking the property's history, buyers and lenders can avoid potential legal disputes and financial losses. This process confirms ownership and identifies any issues, such as unpaid taxes or judgments, that could affect the property's transfer.
What Records Are Examined?
During a title search, several records are meticulously reviewed, including:
- Deeds
- Mortgages
- Tax liens
- Judgments
- Easements
- Restrictive covenants
These records are typically accessed through the Oakland County Register of Deeds, providing a comprehensive view of the property's legal status.
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 claims from heirs. These issues can delay or derail a property sale if not addressed promptly. Ensuring clarity in ownership and resolving such claims is vital for a smooth transaction.
How Long Does a Title Search Take?
The Sonic Title team reports that a title search in Birmingham, Michigan, typically takes 5 to 10 business days. However, this can vary based on the complexity of the property's history and the efficiency of local government offices. Sonic Title's swift and professional approach ensures timely completion of this crucial step.
What Happens if Problems Are Found?
If issues are discovered during the title search, they must be resolved before the sale can proceed. A common question we hear at Sonic Title is: "What happens if problems are found?" The answer is that the seller is usually responsible for clearing these issues, either by paying off liens or negotiating settlements. Sonic Title provides guidance throughout this process to facilitate a resolution.
A title search is different from title insurance, although they are closely related. A title search uncovers existing issues, while title insurance protects against future claims. Title insurance gives buyers peace of mind, covering potential losses from undiscovered title defects after the purchase.
Who Pays for the Title Search?
In Michigan, it is customary for the buyer to pay for the title search as part of the closing costs. However, this can vary by agreement between the buyer and seller. Sonic Title ensures transparency in all costs, helping clients understand their financial responsibilities during the transaction.
How to Read a Title Commitment
Reading a title commitment involves understanding key sections such as the legal description of the property, the conditions of the title insurance policy, and any exceptions to coverage. Sonic Title provides a detailed explanation of the commitment, ensuring buyers comprehend their rights and responsibilities.
Protecting Yourself as a Buyer
To protect yourself as a buyer, always conduct a thorough title search and invest in title insurance. This proactive approach safeguards against potential legal disputes and financial losses. With Sonic Title's expertise, you can confidently navigate the complexities of Birmingham's real estate market.
Whether you're buying your first home or adding to your investment portfolio, our team is ready to help. Call Sonic Title at (313) 251-5145 for a free consultation and ensure a smooth closing process.
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.