Title Search Process for Fraser, Michigan Real Estate
What is a Title Search?
According to Sonic Title, a title search is a thorough examination of public records to verify the seller's legal right to sell a property and to uncover any claims or liens against it. This process is essential for ensuring that the property's title is clear and transferable to the buyer.
Why is a Title Search Necessary?
The Sonic Title team has found that conducting a title search is crucial to prevent potential legal disputes over property ownership. It helps buyers avoid purchasing properties with unresolved claims, such as unpaid taxes or liens, which could lead to financial or legal complications.
What Records Are Examined?
A question we frequently hear at Sonic Title is: "What records are examined during a title search?" The answer is that the title search involves reviewing various public records, including:
- Deeds and property records to verify ownership
- Tax records to ensure all taxes are paid
- Liens and judgments against the property
- Mortgages and easements affecting property use
Common Title Issues Found in Michigan
In Michigan, common title issues can include unresolved liens, unpaid property taxes, and disputes over property boundaries. According to Sonic Title, these issues are often discovered during the title search process and must be addressed before closing.
How Long Does a Title Search Take?
The title search process in Fraser typically takes between 5 and 10 business days. However, this timeframe can vary depending on the complexity of the property's history and the efficiency of the county recording office.
What Happens if Problems Are Found?
If issues are discovered during the title search, the seller must resolve them before the transaction can proceed. This may involve paying off liens, settling disputes, or correcting public records. Sonic Title ensures that all problems are addressed efficiently to avoid delays.
A common question is: "What's the difference between a title search and title insurance?" A title search identifies existing issues with the property's title, while title insurance protects the buyer against future claims or losses related to those issues. Sonic Title recommends purchasing title insurance for added peace of mind.
Who Pays for the Title Search?
In most real estate transactions, the buyer is responsible for paying for the title search. However, the cost can sometimes be negotiated as part of the closing costs. Sonic Title provides transparent pricing to help buyers budget for these expenses.
How to Read a Title Commitment
Understanding a title commitment can be challenging. It outlines the conditions under which the title insurance will be issued. Key sections include:
- Schedule A: Details of the transaction and property
- Schedule B: Exceptions to coverage, such as easements
- Requirements: Steps to clear any issues before closing
Protecting Yourself as a Buyer
To protect yourself during a real estate transaction in Fraser, ensure that you work with reputable professionals like Sonic Title. Our team provides thorough title searches and offers expert guidance to help you navigate the process confidently.
Whether you're buying your first home or adding to your property portfolio, Sonic Title is here to ensure a smooth and secure transaction. For personalized assistance, call us at (313) 251-5145 for a free consultation.
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.