Sun Title assists thousands of real estate agents and their buyers and sellers each year. We’ve seen almost everything there is to see in real estate transactions.

Where Can I Obtain the Documents for the Transaction?

All the documentation you will need to complete your transaction will be provided by your real estate agent, lender (if applicable) and Sun Title. If at any time you need a copy of a document or have questions about your transaction, contact your real estate agent, lender or Sun Title at 616.458.9100.

Once the Purchase Agreement is Signed, How Quickly Can I Close?

  • If the buyer is paying cash and there are no title issues, Sun Title will coordinate with your real estate agent and can close the transaction within two weeks from the time that all required documentation is received.
  • If a buyer is working with a lender, the lender typically needs 45 days to qualify the loan. Once the lender is ready, Sun Title can close within a few days from the date Sun Title receives all required documentation from the lender.

Who Holds the Buyer’s Earnest Money Deposit (EMD)?

Sun Title will hold the buyer’s EMD and this money is applied to the closing statement as a credit to the buyer.

How Do I find Professionals to Help with Inspections?

Depending on the terms of the purchase agreement, the buyer may elect to have a series of inspections performed. Likewise, the seller may be responsible for a well and septic inspection. The listing agent and the buyer’s agent will assist with the identification and coordination of qualified inspectors and professionals in the area. If you have questions, contact your real estate agent or you can always call us at 616.458.9100.

How Do I Protect My Closing Funds From Wire Transfer Fraud?

  • Sun Title utilizes CertifID (www.certifid.com) to securely send its wiring instructions to buyers. Only those wiring instructions may be trusted or followed.
  • CertifID will also be used to confirm the seller’s identity and confirm bank details in the event the net closing proceeds are sent to the seller via wire transfer.

If the Transaction Does not Close, Who Gets the Earnest Money Deposit?

It depends. The purchase agreement has specific provisions that may allow the buyer to receive back the EMD if a “contingency” to the purchase is not satisfied. Outside of contingent obligations such as financing, inspections, survey, etc., the seller may be entitled to receive the EMD if the buyer cannot fulfill their obligations. Sun Title will prepare an Escrow Release Agreement which will state where the EMD will be paid. If the parties agree, they will sign the release and Sun Title will distribute the EMD accordingly. If the parties do not agree, Sun Title may send the EMD funds to the county court where the property is located and the parties would need to file an action with the court to obtain the EMD funds.

Will Sun Title Prepare Documents and Close the Transaction without Title Insurance?

No. Sun Title will only assist in a transaction if Sun Title is issuing title insurance.

What is Title Insurance and How Much Does it Cost?

  • Sun Title will issue an insurance policy protecting against loss for title defects and Sun Title will coordinate the transaction documents and funding so the closing is smooth and accurate.
  • In Michigan, title insurance premiums are filed by the title insurance underwriters that are licensed to issue insurance within the state. This sets the rates that are charged for each type of title insurance policy. The rates between underwriters vary slightly depending on the type of policy being issued. The exact pricing is dependent on the amount of coverage being insured. You only pay title insurance once and the coverage continues as long as you have an interest in the property and will automatically transfer to your heirs upon death.
  • To obtain a title insurance quote, please visit our website at: www.suntitle.com and select “Get a Quote” from the homepage or call us at 616-458-9100 and one of our experienced staff will be happy to assist you.

Who pays for the Title Insurance?

  • Typically, the seller pays for the owner’s policy and the buyer will pay for the lender or loan policy if they are working with a lender to purchase the property.

What Does Title Insurance Cover?

  • A standard owner’s policy will cover the following risks:
    • Forgery and impersonation
    • Lack of competency, capacity or legal authority of a party
    • Deed not joined in by a necessary party (co-owner, heir, spouse, corporate officer, or business partner)
    • Undisclosed (but recorded) prior mortgage or lien
    • Undisclosed (but recorded) easement or use restriction
    • Erroneous or inadequate legal descriptions
    • Lack of a right of access
    • Deed not properly recorded
  • An extended coverage policy may be requested to protect against such additional defects as:
    • Off-record matters, such as claims for adverse possession or prescriptive easement
    • Deed to land with buildings encroaching on land of another
    • Incorrect survey
    • Silent (off-record) liens (such as mechanics’ or estate tax liens)
    • Pre-existing violations of subdivision laws, zoning ordinances or Covenants, Conditions and Restrictions (CC&R’s)
  • A lender’s title insurance policy insures that the lender’s mortgage is in priority position at the time the loan is closed.

What Does a Title Company Do Before the Closing is Scheduled?

  • Title search and commitment preparation
    • Sun Title performs a search of the public record to identify current ownership, and all recorded encumbrances (mortgages or other liens), easements and restrictions, and verify whether all taxes and assessments have been paid.
  • Transaction coordination
    • Sun Title also receive and coordinate all the documents from the buyer, seller, real estate agents, lender and others involved to make sure the settlement statement accurately reflects the understanding of the parties and that all funds are properly received and disbursed. Sun Title calls this a “great closing experience.” On the transaction coordination side, Sun Title will act as a full service partner that engages all parties in the transaction to keep them informed as the transaction moves from the purchase agreement phase to a smooth closing.

What Does a Title Company Do Between the Time the Closing is Scheduled and the Closing Date?

  • Great Communication
    • There are several key components that make a real estate transaction an enjoyable one. Great representation, a clear and concise contract, responsive parties and timely communication. At Sun Title, communication is our main product and Sun Title makes it its mission to keep all the parties engaged through proactive and complete communications.
  • Problem solving
    • Sun Title is a “YES” company that really knows how to work through the toughest of issues that may arise in a transaction. We play a unique role in the real estate and lending industries and we have the experience and track record of getting to “YES.”
  • Title clearance
    • The title commitment includes a list of requirements that must be satisfied before the closing can take place. Sun Title provides a full service solution for its clients and assists them in all aspects of title clearance. Tracking down prior owner interests, mortgage discharges, deceased people on title, etc., are just a few of the countless issues Sun Title helps its clients resolve on a daily basis. Leave the details to us – Sun Title is very good at them.
  • Accurate and timely closing statements
    • The numbers are an important part of every real estate deal. Sun Title is responsible for taking the information off the Purchase Agreement, Title Commitment and lender documents and preparing Closing Disclosures and Closing Statements that accurately reflect the understanding of the parties and the costs and requirements associated with closing. As the transaction is preparing to close, updates to the Closing Statements will be quick and complete.
  • Coordination of all parties involved in the transaction
    • A real estate transaction is similar to a musical performance. There are a cast of characters with each one playing a very critical role in the success or failure of the transaction. sellers, buyers, real estate agents, lenders, title companies, attorneys, surveyors and inspection companies include the most common line up Sun Title sees. At Sun Title, it is our job to coordinate communication, expectations and tasks from all parties involved. With awareness and engagement by all, the closing will take place on time and be a smooth one.
  • Coordination and receipt of closing funds
    • Sun Title will collect the EMD from buyer as well as the buyer’s closing funds prior to the closing. These funds will be held in Sun Title’s escrow account. Once the closing is complete, Sun Title will disburse the closing funds in accordance with the seller’s closing statement.
  • A friendly and professional closing experience
    • Buying or selling a home is a life event and something people do only a few times in their lifetime. Sun Title views the closing experience as a celebration of the time, effort and coordination it took to get to the closing table. Our goal is that no person learns anything at the closing table because all the documents, numbers, disclosures, and forms should have been prepared, circulated to you and discussed in advance.

What Does a Title Company Do After the Closing?

  • Fast and accurate disbursements and document recording after close
    • Once the closing is complete, a series of things takes place. Sun Title disburse the funds to pay off the seller’s mortgage(s), taxes that had been billed but not yet paid, contractor invoices and a number of other things that may have been negotiated between the parties. Sun Title Has the responsibility of timely and accurately recording the documents that were signed at the closing table. We have a dedicate team that is experience in disbursing fund and recording documents after the closing.
  • Available for questions at anytime – before, during and after the transaction is closed
    • From time to time, issues may come up after the closing. Requests for closing packages, easements or other building restrictions on title or just a copy of the closing statements to provide to a tax accountant are things that a title company should be able to send shortly after being requested. All of our files are stored electronically on secured servers and Sun Title is able to respond to requests for transaction documents and information on a moment’s notice. Simply call 616-458-9100 and one of our team of experts will be happy to assist you.

Ready to Feel More Confident About Closing?

Download the full Sun Title Homeownership Guide for even more expert tips, checklists, and peace-of-mind advice for buyers and sellers.

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