The DiMora Team are real estate experts in the Novi and Northville neighborhoods and you should know that the title of a house refers to the legal ownership of a home—it gives you the right to live there and sleep there and use it as you wish. “Title,” though it sounds like a document you’d find in a three-ring binder somewhere, is a concept, not a piece of paper. You can’t transfer ownership of a property until you “clear title.” That means you’ve proven your title to the house is free of any clouds or defects such as liens, judgments, or bankruptcies. Essentially the buyer of your house (and the lender financing the transaction) doesn’t want to take on any of your old IOUs that use the property as collateral. Before closing, a title company or real estate lawyer will conduct a title search to check for any of these potential problems. Check out below to see what sold in Chase Farms in October 2020:
22264 Chase Drive, Novi: 5 bedrooms, 3.1 bathrooms, 3,274 sq. feet, 3 car garage, Sold Price: $525,000
Chase Farms Home Sold
October 2020
Any title issues identified in the title search have to be cleared before the sale of a house can move forward. For more information on Chase Farms, or similar Northville or Novi neighborhoods such as Kirkway Estates, Bradford of Novi and Cascades of Northville, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.