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Ann Arbor Real Estate Blog

Blog about Ann Arbor and Saline Michigan

Title Insurance in Ann Arbor

Title Insurance in Ann Arbor

When you buy or sell a home in Ann Arbor, you need title insurance. The seller buys 1/2 of the title insurance based on the sale price of the house. The buyer purchases title insurance on the mortgage amount.

Title Insurance Seminar in Ann ArborFriday I attended seminar sponsored by the new Washtenaw Councel of Realtors, formally Womans Council of Realtors.

The panel was composed of Scott Broucher of Absolute Title, Debbie Ellison of American Title and Gary Selesko  of Cislo Title.

They opened  by saying this seminar is going to be Title Insurance 101, I thought “oh great, I got up early for this.”

However the panel did not disappoint.

Short Sales and Foreclosures

One thing I learned for people buying a short sale or foreclosure in Ann Arbor is to make sure you obtain your own title policy and NOT TO DEPEND on the BANK to give it to you or for it to be clean title work.

One of the local Ann Arbor Realtors who sold 187 foreclosed properties last year said she could not believe the number of “supposed buyer agents” NOT asking for or ordering Title Work on a foreclosed home.  Weeks later they would call her and ask for the title work. The bank provided NONE.

Just because you close at a title company doesn’t mean they insured over that. Even if they did you some kind of policy it could be so vague as to give you no protection at all.


Case in point, my daughter a buyer agent on the Missy Caulk TEAM was selling a foreclosed property in a new construction community in Belleville. She kept asking the listing agent for it, he kept saying he would get it but it never arrived. So she ordered it herself from a local Ann Arbor Title Company.

You should have seen the liens from taxes, home owner association, contractors and utilities.

It took us 9 months to close this home because all the liens had to be waived or payed to get a clean title policy. Now what if she had waited or not ordered it for her own buyer? What if you were that buyer and tried to sell in a few years and found out all those liens had not been taken care of when you purchased?

Attorney Review

If you are buying a home in Ann Arbor Area, especially if it is a short sale or foreclosure, INSIST your agent get your title work from a local company with enough time to review and have an attorney review.

On short sales or foreclosures I insist my team ALWAYS have the buyers pay for attorney review. If you are buying a distressed home, you are getting that home most likely under market value. That is a good thing.  So spend the extra $250.00 for an attorney to review. It will be money well spent.

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