Title Search Process in Hartland, Michigan Real Estate Transactions
What is a Title Search?
According to Sonic Title experts in Metro Detroit, a title search is a critical step in real estate transactions that involves examining public records to verify the seller's legal right to sell the property and uncover any existing claims or liens against it. This process ensures that a buyer receives a clear title, free from any encumbrances.
Why is a Title Search Necessary?
The Sonic Title team has found that conducting a title search is essential to protect the buyer from potential legal issues that could arise if there are undisclosed claims or liens on the property. By uncovering these issues before the transaction is completed, buyers can avoid costly legal disputes and ensure a smooth transfer of ownership.
What Records Are Examined?
A question we frequently hear at Sonic Title is: "What records are typically examined during a title search?" The answer is that the search involves reviewing various public records, including:
- Property deeds
- Mortgages
- Tax records
- Judgments
- Liens and easements
In Hartland, Michigan, these records are maintained by the Livingston County Register of Deeds. Accessing these documents is crucial for determining the property's legal status.
The median home price in Hartland is $320,000, according to recent data.
Common Title Issues Found in Michigan
In our years serving Michigan, Sonic Title has helped clients navigate various common title issues, including:
- Outstanding mortgages
- Unpaid property taxes
- Judgments or liens from creditors
- Easements that may affect property use
- Errors in public records
How Long Does a Title Search Take?
A common question we hear is: "How long does a title search take?" Typically, a comprehensive title search in Michigan takes about one to two weeks. However, the timeline can vary based on the complexity of the property's history and the efficiency of the local records office.
What Happens if Problems Are Found?
If issues are identified during the title search, the Sonic Title team will work with the involved parties to resolve them. This might involve negotiating with lienholders, correcting public records, or addressing any other encumbrances before the transaction can proceed.
The Sonic Title team reports that while a title search identifies existing issues, title insurance provides protection against future claims that may arise after the purchase. Title insurance covers the buyer or lender against undiscovered defects in the title that could result in financial loss.
Who Pays for the Title Search?
In most Michigan real estate transactions, the cost of the title search is typically covered by the buyer. However, this can sometimes be negotiated as part of the sale agreement, depending on the specific terms agreed upon by both parties.
How to Read a Title Commitment
Understanding a title commitment can be challenging, but it is essential for buyers. A title commitment outlines the condition of the title and any exceptions to coverage. It generally includes three main parts:
- Schedule A: Contains basic information about the transaction and property.
- Schedule B: Lists exceptions to the title policy, such as easements or restrictions.
- Schedule C: Details conditions that must be resolved before closing.
Protecting Yourself as a Buyer
To protect yourself as a buyer, it is crucial to work with experienced professionals like those at Sonic Title. Our team catches title issues others might miss and ensures that you are fully informed about the property's status before completing your purchase.
Whether you're buying a home in Hartland or elsewhere in Michigan, understanding the title search process is vital. For a smooth closing experience, Sonic Title is here to help. 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.