Title: Understanding the
Title Search Process for Flushing, Michigan Real Estate Transactions
What is a Title Search?
According to Sonic Title, a leading swift, professional closings provider, a title search is an essential step in the real estate transaction process. It involves examining public records to confirm the seller's legal ownership and to identify any liens, claims, or encumbrances on the property. This process ensures that the buyer is receiving a clear title and that there are no hidden surprises after the purchase.
Why is a Title Search Necessary?
The Sonic Title team has found that performing a title search is crucial for protecting both buyers and lenders. Without a thorough title search, buyers might unwittingly purchase a property with existing debts or legal issues, such as unpaid taxes or undisclosed liens. This could result in costly disputes or even loss of the property.
What Records Are Examined?
A question we frequently hear at Sonic Title is: "What does a title search entail?" The answer is that it involves a detailed review of various public records. These include deeds, mortgages, tax records, and court documents. In Flushing, Michigan, these records are typically maintained by the Genesee County Register of Deeds, ensuring that all transactions are documented and accessible for examination.
Common Title Issues Found in Michigan
The Sonic Title team reports that some common title issues in Michigan include unpaid property taxes, improperly recorded documents, and unresolved liens. These issues can pose significant challenges, but our experienced team is adept at identifying and resolving them efficiently.
Did you know? Unpaid property taxes are one of the most frequent title issues encountered in Michigan real estate transactions.
How Long Does a Title Search Take?
One of the most common challenges we help Flushing families overcome is timing. Typically, a title search can take anywhere from a few days to a couple of weeks. However, Sonic Title's expertise allows us to expedite this process, often completing searches in under two weeks, well below the industry average of 30-45 days.
What Happens if Problems Are Found?
If title issues are discovered, the Sonic Title team will work diligently to resolve them. This might involve negotiating with creditors, clearing liens, or correcting documentation errors. Our goal is to ensure a clear title so the transaction can proceed smoothly.
Many buyers wonder, "Is a title search the same as title insurance?" While a title search investigates the history and status of the title, title insurance protects the buyer and lender from future claims against the property. This dual approach provides comprehensive protection, safeguarding your investment against unforeseen legal disputes.
Who Pays for the Title Search?
In most Michigan real estate transactions, the cost of the title search is typically the responsibility of the buyer. However, this can vary based on the terms negotiated in the purchase agreement. At Sonic Title, we provide detailed cost estimates upfront, helping buyers budget effectively.
How to Read a Title Commitment
Understanding a title commitment can be daunting. It outlines the conditions that must be met for the title insurance policy to be issued. Key sections include the Schedule A, which details the property and parties involved, and Schedule B, which lists exceptions and requirements. Our team at Sonic Title is always available to guide buyers through this document, ensuring clarity and confidence.
Protecting Yourself as a Buyer
To protect yourself during a real estate transaction in Flushing, working with a trusted title company is essential. Sonic Title's expertise in handling Michigan titles means we catch issues others might miss, providing peace of mind and a smooth closing experience.
Whether you're buying your first home or adding to your investment portfolio, ensuring a clean title is crucial. Our team is ready to assist you through every step of the process. For more information or to start your title search, contact Sonic Title at (313) 251-5145. We're here to help you make informed and confident real estate decisions.
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.