Title Search Process for Shelby, Michigan Real Estate Transactions
What is a Title Search?
According to Sonic Title, a leading swift, professional closings provider, a title search is a comprehensive examination of public records to verify the seller's legal right to transfer ownership and to identify any claims or liens against the property. This process is essential in ensuring a smooth and secure real estate transaction.
Why is a Title Search Necessary?
A question we frequently hear at Sonic Title is: "Why do I need a title search?" The answer lies in protecting your investment. A title search confirms that the seller has the legal right to sell the property and that there are no undisclosed encumbrances, such as liens or legal disputes, that could affect your ownership. In Shelby, Michigan, as in other areas, ensuring clear title is crucial to avoid future legal complications.
What Records Are Examined?
The Sonic Title team examines various public records during a title search, including:
- Deeds and mortgages to verify ownership history
- Tax records for unpaid taxes or assessments
- Court records for liens, easements, or judgments
- Property plats and maps for boundary disputes
Common Title Issues Found in Michigan
Industry data shows that common title issues in Michigan include undisclosed heirs, unpaid taxes, and clerical errors in public records. Shelby properties are subject to these same potential issues, making the title search an essential step in the real estate process.
How Long Does a Title Search Take?
A common question we hear at Sonic Title is: "How long does a title search take?" Typically, the process can take anywhere from a few days to a couple of weeks, depending on the complexity of the property's history and the efficiency of the local recording office.
What Happens if Problems Are Found?
If issues are identified during the title search, such as liens or ownership disputes, the Sonic Title team works diligently to resolve them before closing. This might involve clearing liens, correcting records, or negotiating with creditors. Our goal is to ensure that you receive a clear title at closing.
While a title search aims to uncover existing problems, title insurance protects you from future claims against your property's title. It covers unforeseen issues that may arise after the purchase, providing peace of mind and financial protection.
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 and are often negotiated in the purchase agreement. Consulting with Sonic Title can clarify this aspect for Shelby buyers.
How to Read a Title Commitment
A title commitment is a document issued by the title company outlining the conditions under which it will issue a title insurance policy. It includes:
- Schedule A: Basic information about the transaction and property
- Schedule B: Exceptions, or items not covered by the policy
- Requirements: Actions needed to clear the title
Protecting Yourself as a Buyer
To protect yourself during a real estate transaction in Shelby, Michigan, ensure a thorough title search is conducted and obtain title insurance. Additionally, working with experienced professionals like Sonic Title can provide guidance and peace of mind throughout the process.
For any questions or assistance with your Shelby real estate transaction, the team at Sonic Title is ready to help. With our experience serving Metro Detroit families, including those in Shelby, we ensure a smooth and secure closing process. Call us today 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.