Title Issues: The unrecorded lien

Parks Title — Fri, 15 Jul 2011 20:03:25 +0000

Unknown to many folks, there exist a slew of unrecorded issues that can affect real property. Examples include (but are certainly not limited to):

• Unpaid water bills or multiple water accounts
• Board up of abandoned property by the City
• Grass/Weed cutting by the City
• City charges for Snow Removal
• Ordinance Violations for broken steps, missing railings, etc.
• Unpaid fees for Inspections/Certificates of Occupancy/ACRs
• Special assessments for paving, sidewalks, sewer, etc.

If you are purchasing a property on land contract or for cash, I always recommend that you purchase an owner’s policy. Protect yourself and your investment even further by closing with an experienced, professional title company.

When people ask me why they need title insurance, I always ask, “How much time do you have?”

For title insurance quotes or more information, please contact Kat Hilliard at (248)543-3990 ext. 151 or email khilliard@parkstitle.com.

Michigan Real Estate Agents – Did you know….

Parks Title — Wed, 09 Mar 2011 20:07:12 +0000

Did you know that the State of Michigan Treasurer’s office has an exemption that would allow some homeowners to sell their homes without paying the State Transfer Tax?

The exemption is meant for owner occupied, homestead properties where the current SEV is either the same or lower than the original SEV.

Check with your local taxing authority to find out if your seller meets the requirements.

You could save your seller a lot of money. People remember things like that.