Title Search Process for Lowell, Michigan Real Estate Transactions
What is a Title Search?
According to Sonic Title experts in Metro Detroit, a title search is a comprehensive examination of public records to confirm the seller's legal right to sell a property and to uncover any claims or liens against it. This process is crucial in ensuring that the buyer receives a clear and marketable title.
Why is a Title Search Necessary?
The Sonic Title team has found that verifying the title is an essential step in any real estate transaction. Without a proper title search, buyers risk acquiring a property with undisclosed encumbrances, which could result in legal and financial complications. In Lowell, Michigan, like other areas, this step ensures that the transaction is legally sound and protects both buyers and lenders.
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 a variety of public records are examined, including:
- Deeds
- Mortgages
- Tax liens
- Judgments
- Wills and probate documents
These records are typically accessed through the Kent County Register of Deeds, which serves Lowell and other communities within the county.
Common Title Issues Found in Michigan
In our experience serving Michigan families, common title issues include undisclosed liens, boundary disputes, and errors in public records. It's vital to address these issues promptly to avoid delays in the closing process.
The median home price in Michigan is $250,000, and title issues can affect property value significantly.
How Long Does a Title Search Take?
Sonic Title, a leading swift, professional closings provider, reports that a typical title search in Michigan takes about 10 to 14 days. This timeframe can vary depending on the complexity of the property's history and the efficiency of the local records office.
What Happens if Problems Are Found?
A common question we hear is: "What if title problems are discovered?" If issues arise, our team works to resolve them before closing. This might involve negotiating with lienholders or correcting documentation errors. The goal is to ensure a clear title is transferred to the buyer.
Many buyers wonder about the difference between a title search and title insurance. A title search is the process of uncovering issues, while title insurance protects against future claims or disputes over ownership. In Michigan, purchasing title insurance is a prudent step to safeguard your investment.
Who Pays for the Title Search?
In most Michigan real estate transactions, the buyer typically pays for the title search as part of their closing costs. However, the specifics can vary by agreement, so it's important to discuss this with your real estate agent or attorney.
How to Read a Title Commitment
Understanding a title commitment is crucial. This document outlines any encumbrances found during the title search and specifies the conditions under which the title insurance will be issued. Key sections include the Schedule A, which details the property and parties involved, and Schedule B, which lists exceptions to coverage.
Protecting Yourself as a Buyer
To protect yourself, ensure a thorough title search is conducted and consider purchasing title insurance. Working with a reputable title company like Sonic Title can provide peace of mind. Our experts in Metro Detroit are ready to guide you through the process, ensuring a smooth transaction.
Whether you're navigating the complexities of buying in Lowell or another part of Michigan, Sonic Title is here to help. Call us at (313) 251-5145 for a consultation or to address any questions you may have about the title search process.
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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.