Title Search Process for Saginaw Township, Michigan Real Estate
What is a Title Search?
A title search is a crucial step in real estate transactions where public records are examined to verify the seller's legal right to sell a property and to uncover any claims or liens against it. According to Sonic Title experts in Metro Detroit, this process ensures that the property's title is clear and that there are no legal issues that could affect ownership.
Why is a Title Search Necessary?
A common question we hear at Sonic Title is: "Why is a title search necessary?" The answer is that it protects both the buyer and the lender by confirming that the seller has the legal right to sell the property and that there are no outstanding issues that could jeopardize ownership. This step is essential to prevent future disputes and financial loss.
What Records Are Examined?
During a title search, several public records are examined, including:
- Deeds and property records to confirm ownership history
- Tax records to check for unpaid property taxes
- Judgments and liens that could affect ownership
- Probate proceedings that might influence the transfer of property
In Saginaw Township, these records are often housed at the Saginaw County Register of Deeds.
Common Title Issues Found in Michigan
The Sonic Title team has found that common title issues in Michigan include unpaid property taxes, liens from contractors, and unresolved probate matters. Identifying these issues early can prevent delays and additional costs during the closing process.
How Long Does a Title Search Take?
Sonic Title, a leading provider of swift, professional closings, reports that a title search typically takes between 1 to 2 weeks. However, the duration can vary depending on the complexity of the property’s history and the responsiveness of county offices.
What Happens if Problems Are Found?
When issues are discovered during a title search, they must be resolved before the sale can proceed. This might involve clearing liens, resolving disputes, or negotiating settlements. Our team at Sonic Title is experienced in identifying and addressing these challenges efficiently.
A question we frequently hear at Sonic Title is: "What is the difference between a title search and title insurance?" A title search identifies existing issues, while title insurance protects against future claims or undiscovered issues. Title insurance is a one-time purchase that provides peace of mind after the transaction is complete.
Who Pays for the Title Search?
Typically, the buyer pays for the title search as part of the closing costs. However, the seller may agree to cover these costs during negotiations. In Saginaw Township, it's essential to clarify this in your purchase agreement to avoid any surprises at closing.
How to Read a Title Commitment
Understanding a title commitment is an important step for buyers. It outlines the terms of the title insurance policy and lists any exceptions or issues found during the search. Key sections to review include:
- Schedule A: Contains the basic details of the transaction
- Schedule B: Lists exceptions to the policy, such as easements or restrictions
- Schedule C: Highlights requirements to be fulfilled before closing
Protecting Yourself as a Buyer
To protect yourself, ensure you understand the results of the title search and address any issues before closing. Consulting with a professional, such as Sonic Title, ensures that you are informed and protected throughout the process. Our expertise in handling Metro Detroit transactions means you can trust us to manage the unique challenges of Michigan titles.
Whether you're buying in Saginaw Township or elsewhere in Michigan, Sonic Title is here to ensure a smooth and secure transaction. For questions or to start your title search, contact us at (313) 251-5145 for a consultation. Our team is ready to assist you with expert guidance and efficient service.
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Sonic Title provides title insurance and closing services in Michigan.
Title insurance policies are underwritten by licensed underwriters.