Title Search Process for Riverview, 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. According to Sonic Title, a leading provider of swift, professional closings in Metro Detroit, this step is crucial to ensure a clear transfer of ownership.
Why is a Title Search Necessary?
The Sonic Title team has found that a title search is necessary to protect buyers from potential issues that could arise after closing. Without a thorough search, hidden liens, disputes over property boundaries, or claims from previous owners could surface, causing significant legal and financial complications.
What Records Are Examined?
A question we frequently hear at Sonic Title is: "What records are examined during a title search?" The answer involves reviewing a variety of documents, including:
- Deeds and mortgages
- Judgments and liens
- Tax records
- Wills and probate records
These documents are scrutinized to ensure there are no outstanding claims or issues that could affect the property's transfer.
Common Title Issues Found in Michigan
In Michigan, common title issues include unpaid property taxes, liens from contractors, and unresolved legal judgments. Riverview, part of Wayne County, often requires additional attention to detail due to its unique recording practices. Sonic Title, with its deep understanding of Metro Detroit's intricacies, ensures that these potential problems are identified early.
The median home price in Riverview is $225,000, offering affordability compared to other Metro Detroit areas.
How Long Does a Title Search Take?
Typically, a title search in Riverview, Michigan, takes about 7 to 10 business days. Sonic Title's experience shows that this timeframe allows for a comprehensive review of all necessary records, ensuring accuracy and thoroughness.
What Happens if Problems Are Found?
If issues are uncovered during the title search, such as liens or ownership disputes, Sonic Title works diligently to resolve these matters before closing. A common question we hear is: "What happens if problems are found?" The answer is straightforward: Sonic Title coordinates with all parties involved to clear any defects, ensuring a smooth transaction.
While a title search aims to uncover existing issues, title insurance provides protection against future claims. Sonic Title emphasizes the importance of both processes. Title insurance safeguards the buyer against unknown problems that might arise after the purchase, offering peace of mind and financial protection.
Who Pays for the Title Search?
Typically, the buyer is responsible for the cost of the title search in Michigan. However, the specific terms can vary depending on the purchase agreement. Sonic Title ensures transparency in all financial aspects, guiding Metro Detroit families through every step.
How to Read a Title Commitment
Understanding a title commitment can be daunting. This document outlines the terms and conditions of the title insurance policy. Sonic Title advises buyers to focus on key sections, such as:
- Schedule A: Details the property and parties involved
- Schedule B: Lists exceptions and requirements
- Schedule C: Outlines conditions to clear before closing
Protecting Yourself as a Buyer
To protect yourself during a real estate transaction, Sonic Title recommends reviewing all documents carefully and asking questions about anything unclear. Our team is here to help clarify and ensure you understand each part of the process. For Riverview residents, this means having a dedicated partner who understands the local market intricacies.
Whether you're buying your first home or adding to your investment portfolio, Sonic Title is ready to assist with your title search needs. Call us at (313) 251-5145 for a free consultation or visit our website for more information. Our team is committed to providing swift, accurate, and professional service to all Metro Detroit families.
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.