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COMMITTED TO BUILDING LASTING CUSTOMER RELATIONSHIPSFall Real Estate: Protect Your Home Purchase With Title Services
As the leaves change and the year winds down, fall can be an important time for buying and selling real estate. Whether you’re purchasing your first home, selling a property, or preparing for a year end closing, there’s one part of the transaction you don’t want to overlook: title services.
What Does a Title Company Do?
A property title represents the legal rights associated with owning real estate. Before a transaction closes, a title company researches the property’s history to help identify potential issues that could affect ownership.
These issues can include:
- Unpaid property taxes or liens
- Errors in previous deeds or public records
- Undisclosed ownership interests
- Unknown or missing heirs
- Other claims against the property
Learn more about title services and how they can help protect your real estate transaction.
Why Does Title Insurance Matter?
Even when a title search is completed, certain problems from a property’s past may not be discovered until after closing. Owner’s title insurance can help protect a homeowner against certain covered claims involving the property’s prior ownership.
First Centennial Title Agency also provides helpful real estate resources for buyers, sellers, and real estate professionals, including information about title insurance and the closing process.
Buying or Selling Real Estate This Fall?
A smooth closing starts with the right preparation. For buyers, sellers, and real estate professionals, having an experienced title team involved early can help identify and address potential issues before they become closing day surprises.
First Centennial Title Agency, Inc. of Mid-America has been protecting real estate transactions for over 40 years. We provide comprehensive title services for buyers and sellers throughout Clarkston, Birmingham, Brighton, Livonia, Northville, Novi, and Wixom.
If you’re planning a real estate transaction this fall, contact First Centennial Title Agency to learn more about title services and how our team can help support your transaction from contract to closing.
PRINCIPAL RESIDENCE EXEMPTION DEADLINE EXTENSION
Public Act 96 of 2020 was signed into law on June 24, 2020, which amended section 211.7cc of Public Act 206 of 1893, the General Property Tax Act. The act changed the date by which a principal residence exemption may be claimed for the 2020 summer tax levy in the 2020 tax year. For the 2020 tax year only, the deadline for a property owner to claim a principal residence exemption by filing a “Principal Residence Exemption (PRE) Affidavit” (Form 2368) for the 2020 tax levy is extended from June 1 to June 30. As a result, for the 2020 tax year only, property owners that occupy an eligible property on or before June 30, 2020, may qualify for the principal residence exemption beginning with the 2020 summer tax levy and all subsequent tax levies for which eligibility is maintained by filing Form 2368 on or before June 30, 2020 with the local tax collecting unit in which the property is located.
Treasury staff is available to assist and answer questions regarding this Act or other PRE-related questions. The following are key contacts:
- PRE Unit Phone Number: (517) 335-7487
- PRE Unit Website: michigan.gov/pre
- PRE Unit E-mail Address: PRE@michigan.gov
ALTA Survey: Digital Closings/COVID-19
Considered ‘Essential Businesses’ by U.S. Department of Homeland Security, Most Settlement Companies Remain Open During Health Crisis
Title and settlement companies across the country have implemented new processes including digital closings to help consumers complete their real estate and mortgage transactions, according to a survey conducted by the American Land Title Association (ALTA).
In April, ALTA surveyed title professionals to better understand how the COVID-19 crisis has affected business and employee practices. Nearly 400 title and settlement companies participated in the survey.
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First Centennial Title & TitleCapture!
We are excited to announce we are now offering TitleCapture to our agents! This is by far the BEST Seller Net Sheet platform available!
TitleCapture is one of the key technology companies in the US real-estate / settlement industry. Agents can quote rates and fees, directly on their websites and complete Seller Net Sheets. There is so much that this platform offers! Check it out!! Sign up and let us know what you think!
Click on ‘GET A QUOTE’ widget in the bottom right hand side of any page on our website.
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Here we will share articles, Industry news, updates and information. What’s New and what is coming!
