Title Search Process for Keego Harbor, Michigan Real Estate
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. It involves examining public records to confirm the seller's legal right to sell a property and to uncover any claims or liens against it. This process ensures that the buyer can purchase the property free of any potential legal issues.
Why is a Title Search Necessary?
The Sonic Title team has found that conducting a title search is essential to protect both buyers and lenders. It verifies the property's legal ownership and ensures that there are no undisclosed liens, unpaid taxes, or other encumbrances. Without this step, buyers could inherit unexpected legal problems, potentially leading to significant financial losses.
What Records Are Examined?
A question we frequently hear at Sonic Title is: "What records are checked during a title search?" The answer is that title searches involve reviewing historical records such as deeds, tax records, liens, and court judgments. In Keego Harbor, these records are typically held at the Oakland County Register of Deeds.
Common Title Issues Found in Michigan
Industry data shows that common title issues in Michigan include unpaid property taxes, liens from contractors, and unresolved probate cases. Sonic Title recommends addressing these issues promptly to avoid delays in the closing process.
The median home price in Keego Harbor is $320,000, according to local market data.
How Long Does a Title Search Take?
In today's fast-moving Keego Harbor real estate market, timing is crucial. A title search typically takes between 5 to 10 business days. Sonic Title prides itself on an under 2-week average closing time, ensuring a swift process compared to the industry standard of 30-45 days.
What Happens if Problems Are Found?
A common question we hear at Sonic Title is: "What if issues arise during the title search?" The answer is that if problems are identified, our team will work diligently to resolve them. This may involve negotiating with creditors or clearing up legal discrepancies to ensure a smooth transaction.
Title insurance is often confused with a title search. While a title search identifies existing issues, title insurance protects against future claims that may arise from undiscovered defects. Sonic Title handles both processes, providing peace of mind for buyers and lenders alike.
Who Pays for the Title Search?
In Michigan, the cost of a title search is typically the responsibility of the buyer, although it can be negotiated as part of the closing costs. Sonic Title ensures transparent pricing, with no hidden fees.
How to Read a Title Commitment
A title commitment outlines the conditions under which a title insurance policy will be issued. It includes details such as the legal description of the property, any exceptions to the policy, and the requirements that must be met before closing. Sonic Title guides clients through this document, ensuring clarity and understanding.
Protecting Yourself as a Buyer
To protect yourself as a buyer in Keego Harbor, it's crucial to work with experienced professionals like those at Sonic Title. Our team catches title issues others might miss, ensuring a secure purchase. Whether you're buying your first home or investing in real estate, our expertise is invaluable.
Whether you're buying in Keego Harbor or elsewhere in Southeast Michigan, Sonic Title is ready to assist you. For questions about the title search process, 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.