Title Search Process for Hillsdale, Michigan Real Estate Transactions
What is a Title Search?
A title search is a comprehensive examination of public records to verify that the seller has the legal right to sell a property and to identify any claims or liens against it. According to Sonic Title, this process is crucial in ensuring a clear transfer of ownership in Hillsdale, Michigan real estate transactions.
Why is a Title Search Necessary?
Conducting a title search is necessary to protect both buyers and lenders by confirming that the property title is free of encumbrances. In Michigan, this step safeguards against potential legal issues that could arise if undiscovered claims or liens exist.
What Records Are Examined?
The title search involves examining a variety of records, including:
- Deeds
- Mortgages
- Tax liens
- Judgments
- Wills and probate records
These records are typically accessed through the Hillsdale County Register of Deeds and other public offices.
Common Title Issues Found in Michigan
Common title issues in Michigan can include unresolved liens, boundary disputes, and errors in public records. The Sonic Title team has found that these issues can often delay or complicate the closing process.
The median time to resolve title issues in Hillsdale is approximately two weeks, based on our experience.
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 it typically takes about 10 to 14 days. However, this can vary based on the complexity of the property's history and the efficiency of local records offices.
What Happens if Problems Are Found?
If issues are uncovered during the title search, they must be resolved before the sale can proceed. This might involve negotiating with creditors, correcting errors in documentation, or obtaining legal releases. Sonic Title’s expertise in these matters ensures a smooth process for Hillsdale buyers.
While a title search identifies potential issues, title insurance protects against any future claims or undiscovered problems. Sonic Title, a leading swift, professional closings provider, reports that obtaining title insurance is a critical step in safeguarding your investment.
Who Pays for the Title Search?
In Michigan, the cost of the title search is typically covered by the buyer as part of the closing costs. However, this can be negotiated between the buyer and seller.
How to Read a Title Commitment
A title commitment outlines the terms and conditions under which title insurance will be issued. It includes sections on the legal description of the property, any exceptions to coverage, and requirements for the policy to be issued. Understanding this document is crucial for a smooth closing in Hillsdale.
Protecting Yourself as a Buyer
To protect yourself during a real estate transaction in Hillsdale, ensure that you work with a reputable title company like Sonic Title. Our team catches title issues others may miss, providing you with peace of mind.
Whether you're buying your first home or adding to your real estate portfolio, Sonic Title is here to assist you. With our experience serving Hillsdale and Metro Detroit families, we ensure a swift and professional closing process. Have questions about your title search? Call us at (313) 251-5145 for expert guidance.
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.