Frequently Asked Questions

Q: Why Do I Need Title Insurance?

A: An Owner's Policy of Insurance protects you as a purchaser of real estate against title defects that may exist on the property you are buying. A Lenders, or Loan Policy insures the lender as to the priority of its lien, meaning there are no other mortgages, liens, or judgments recorded prior to its mortgage.

Q: What is a Title defect?

A: Judgments, liens, unsatisfied mortgages, unpaid taxes, and restrictions limiting the use of the land are just a few of the most common title defects that can be discovered by a thorough search of the public records. Title Insurance, however, protects you against some the hidden defects that a thorough search of the public records cannot reveal, such as fraud and forgery, deeds by minors or persons of unsound mind, undisclosed or missing heirs.

Q: What does Title Insurance cost?

A: In both Michigan & Wisconsin, rates are set and regulated by the Office of Financial & Insurance Regulation and are based upon the sales price or mortgage amount. However, Guardian Title Services uses 2 of Michigan's and 3 of Wisconsin's largest underwriters allowing us to give you the best rate possible. Please contact us for a detailed quote.

Q: Who pays for it?

A: Generally, local customs in the area determine who pays for the title insurance and other closing costs. However, it is always negotiable between the parties in a purchase transaction. This should be addressed in the Purchase Agreement.

Q: How long does it take?

A: We strive to provide you with your Commitment for title insurance in 24 hours or less. Upon receiving that, contact us to set up your closing date and time. We will always try to meet your closing date needs.

Q: Do I need to close at your location?

A: No. We can have your closing documents sent to you by overnight courier or email, to an affiliated title company, or to your bank for you to sign and have notarized. Let us know your situation and we will accommodate your needs.

Q: Any questions we haven't answered yet?

A: Please feel free to contact us.

205 Harrison St.,  Ironwood, Michigan 49938 •  Office (906) 932-6340  •  Fax (888) 944-5050
Hours - Monday through Friday, 8:00 AM to 4:30 PM