Plymouth MI's Leading Choice For Title Insurance Services
Title One - The #1 Title Insurance Services For Your Next Real Estate Transaction
Buying or selling a property can be frustrating and complicated, so it's crucial that you find the right title company to help! An organized and experienced title company can help facilitate a smooth and efficient closing process, helping you avoid the delays and hassles that often come with real estate transactions.
With over 25 years of experience providing exceptional customer service and expertise, you can trust our team of experienced staff to provide the personal attention and professional integrity you would expect from one of Michigan's top title companies.
We're committed to helping you throughout the entire transaction process - from the minute you contact us until you close!
Title & Tax Services for Plymouth Residents
At Title One, Inc. we are committed to providing our clients with an array of services for all of your title and closing fees. Our staff is experienced with most of us having over 20 years in the industry! The process of buying a home or refinancing a mortgage may seem complicated, but our team has done thousands of transaction a year and has the know-how to make your next transaction as seamless as possible.
Title Insurance Process
A search of the public records is the first step of the title insurance process. It begins with a thorough examination of all documentation that pertains to a specific piece of property in order to evaluate the condition of the title. The main reason to conduct this search is to evaluate the seller's ability to sell the property. Our search will reveal any defects or burdens on the property, including liens, easements, taxes and special assessments.
Our title examiners will then put a title commitment together once the search is completed. Our commitment also lists all of the "exceptions" to a title, such as easements and building restrictions.
Real Estate Closing Services
Once the title commitment is complete we are able to start the closing procedure. We work closely with your lender and realtor (if applicable) to gather all of the necessary documents and numbers for closing. Prior to closing, we put out a package containing the documents necessary to transfer title and the funds necessary to do so. At the time of closing, our friendly staff will walk you through the process and get you into your new home.
Frequently Asked Questions
What is a title search?
A title search is a review of all recorded documents affecting a specific piece of property to determine the present condition of the title. These documents include deeds, court records, property and name indexes, and many other documents. The purpose of the search is to verify the seller's true interest in the title and right to sell property and to discover any claims, defects and other burdens on the property. First, a service known as a title search is carried out that describes the condition and quality of the title to the land you are buying. Then, your title insurance protects you against mistakes or threats that might otherwise result in financial loss to you, since problems with real estate are transferred with the ownership.
What danger of loss can you face?
If a lender has title insurance and you don't, what possible dangers can you face? As an example, let's say you bought a house for $120,000. You've made a $20,000 down payment, and your lender holds a $100,000 mortgage lien or beneficial interest. Your lender has title insurance coverage protecting his interest up to $100,000. The loan policy protects the lender against loss due to unknown title defects. The loan policy protects the lender's interest, it does not protect you. That is why you need an owner's policy, which can be issued at the same time as the loan policy for a nominal one-time fee.
If the builder of my home already has a policy on the property, why do I need it again when I purchase the land from him/her?
A title policy insuring the builder does not protect you. Also, many things could have happened to the land since the builder's policy was issued. Liens, judgments and unpaid taxes for which prior owners were responsible may be disclosed after you purchase the property - causing you aggravation and costing you money.
Get help from Plymouth MI's top team of real estate closing and title insurance experts today - contact Title One, Inc. to speak to a member of our staff.