Parks Legacy Title is a full service title and escrow agency. We make our home in mid-Michigan, and our team has decades of experience clearing title in Ingham, Clinton and Eaton counties. Our agency is also uniquely qualified to serve your title needs throughout the entire state of Michigan.
Parks Legacy Title takes great pride in providing fast and accurate title and settlement services. Serving both residential and commercial clients, we act as an agent for Fidelity National Title.
Parks Legacy Title provides comprehensive title and settlement services for any real estate transaction associated with a purchase, construction, refinance or equity loan by traditional mortgage or land contract.
Our team provides professional support to complete the sale of property between buyer and seller, the sale of foreclosed property or a refinance. Working in partnership with the realtor, lender, seller and buyer/borrower, Parks Legacy Title utilizes our combined expertise to coordinate the transaction in a smooth and professional manner. We proactively identify any issues so that a closing is never delayed due to our title or escrow services.
Real Estate Owned (REO) properties have returned to a financial institution’s asset portfolio through the foreclosure process. The transfer of an REO is unique and closings often involve complicated title issues. Parks Legacy Title is experienced in resolving these matters and making sure clear title can be conveyed.
Parks Legacy Title has extensive experience in creating a smooth closing process for buyers and sellers in a For Sale By Owner (FSBO) transaction. The process of transferring title on a property can be quite complicated. Parks Legacy Title identifies any potential issue that might delay the closing of the sale of your home. Once a purchase agreement has been completed, we will facilitate a smooth closing process within your desired timeframe.
All the required documents for your For Sale By Owner transaction can be found in Parks Legacy Title’s FSBO package. Fill out the form below to obtain a copy of our package.
A short sale is a transaction in which the lender decides to sell the property for less than the actual amount due, and ultimately the total sale price falls short of the balance owed on the property’s loan and closing costs. Short sales are beneficial to both homeowners and lenders by avoiding the negative financial consequences both parties face in foreclosure.
A Foreclosure Guarantee and Commitment is a title insurance product designed to assist a lender and its foreclosing attorney to prepare to foreclose on a real estate mortgage. The Foreclosure Guarantee is designed to provide the lender and its attorney the information regarding the current owner, mortgage and liens affecting the property.
A land contract forfeiture seeks to accomplish payment and bring the land contract current, including interest, costs, and expenses such as taxes. In the event the purchasers are unable to bring the land contract current, a forfeiture action seeks return of the property to the seller. Forfeiture actions are relatively quick, and they are generally less expensive then foreclosure actions. Parks Legacy Title prepares a title commitment detailing all parties that need to be named in the court action. Upon satisfaction of all requirements and receipt of Judgment of Foreclosure, Parks Legacy Title will issue an Owner’s Policy.
If you have questions about title to property, Parks Legacy Title can perform a title search and provide you with the information you desire. Searches are performed for a variety of reasons and can take different approaches from “last deed of record forward” to “search in commitment form.” Contact us today to discuss your specific need, and we’ll offer the quickest and most efficient way to provide you the information you need.
Parks Legacy Title’s cornerstone of service is uncompromising professional ethics. As the agent coordinating the financial transactions related to transfer of title, Parks Legacy Title will oversee the holding of assets and timely distribution of funds so the conditions of the escrow agreement will be met. Our experienced and efficient escrow agents provide integrated escrow services including payment and disbursement services, wire transfer and deposit services and detailed activity reporting for all parties.
An owner’s policy ensures buyers that the title to the real estate is free from all liens and encumbrances except those that are listed as exceptions in the policy or excluded from the policy’s coverage. The policy also covers for loss if there is no right of access to the land. The liability limit of the owner’s policy is typically the purchase price paid for the property, and title insurance coverage lasts as long as the buyer retains an interest in the insured real estate.
Rate schedules from Parks Legacy Title’s underwriter are available here.
A loan policy, also known as Lender’s Title insurance, is based on the dollar amount of the loan and protects the lender’s interest in the property should a problem with the title arise. Once the loan is paid off, the policy is no longer in effect.
Parks Legacy Title is experienced in closing and coordinating 1031 Exchange transactions. In a typical transaction, the property owner is taxed on any gain realized from the sale. However, through a Section 1031 Exchange, the tax on the gain is deferred until a future date. A 1031 Exchange is tax-deferred, not tax-free.