Frequently Asked Questions About Title Insurance
Learn about title insurance, the closing process, and how Sonic Title protects your real estate investment.
Title Insurance Basics
What is title insurance?
Title insurance protects property owners and lenders from financial loss due to defects in the title, such as liens, encumbrances, or ownership disputes that existed before you purchased the property.
Do I need owner's title insurance?
While only lender's title insurance is required for most mortgages, owner's title insurance protects your investment. It's a one-time premium that provides coverage for as long as you own the property.
How much does title insurance cost?
Title insurance premiums in Michigan are based on the property's sale price. Contact Sonic Title for a quote based on your specific transaction.
The Closing Process
What happens at closing?
At closing, you'll sign legal documents, funds will be transferred, and ownership will officially change hands. Sonic Title coordinates all aspects of the closing.
How long does a closing take?
A typical residential closing takes 45-60 minutes. Commercial closings may take longer depending on complexity.
More questions? Call Sonic Title at (313) 251-5145.