COMMERCIAL TITLE SERVICES
From a $5,000 to a $50,000,000 deal, commercial real estate helps provide for your client’s livelihood. We know that the smallest deals can be the most complicated, and the smallest details can be the most crucial. No two commercial transactions are ever quite the same, and we take satisfaction in customizing our services and our process to the needs of each deal.
Birmingham Title’s commercial department combines wide-ranging legal expertise and extensive title experience with unparalleled personal service, responsiveness, and accommodation. Our managing attorneys and examiners are in frequent contact with our underwriters to make sure the closing process is as smooth as possible. Most importantly, we have genuine enthusiasm for the parties and the details involved in each deal.
Our commercial title products
We provide two basic commercial title products – a commercial title insurance policy and a commercial title search. The standard commercial real estate sale or financing transaction will involve our commercial title insurance for both the owner and the lender. This product is the end result of the entire suite of Birmingham Title Agency services, including order processing, title commitment issuance, title clearance, processing of the settlement statement, drafting of closing documents, execution of closing document, recording of security instruments, and frequent updates on the property throughout the process.
However, we understand that the history of title on a property can provide a wealth of information long before and long after the sale. That is where our commercial title search product comes in – our experienced title examiners will perform the same 40-year search of the county records on the property, and the same examination that would occur with a title insurance policy, and provide you with a report that details the owner of the property, the encumbrances, taxes, easements, and copies of all relevant recorded documents. Our commercial title searches can help you and your clients identify if a property is free and clear and can close quickly, or determine what needs to be done to clear title.
Unlike any other commercial title agency, your files are personally processed and closed by one of our three hands-on real estate attorneys. The difference is in the professionalism and speed in which legal issues are resolved, documents are drafted, and every necessary item is present at the closing table for execution. From the simple commercial transaction to the most complicated, most parties are represented by legal counsel, and they find that working with our Birmingham Title Agency attorneys significantly improves their ability to successfully close the transaction.
Not only our real estate attorney partners, lenders, and real estate brokers benefit from the vast legal experience of our Birmingham Title Agency attorneys. Purchasers and sellers of commercial real estate find our expertise invaluable, and often very timely. The benefits of having attorneys who have practiced real estate and business law for decades at the closing table reduces the need for post-closing follow up with our clients.
Here at Birmingham Title Agency, we anticipate all parts of a commercial transaction to be handled by us. We never shy away from the various components that go into a commercial transaction – it is never “just” real estate to us. From the purchase price of business assets, to the transfer of tenant security deposits, to proration of rent, to business sales tax clearance escrow, to liquor license transfers, there is no portion of a commercial transaction we cannot incorporate into your closing. Your client will never have to handle funds outside of closing and worry about maintaining proper documentation for their records. Rest assured, Birmingham Title Agency has handled it in the past, and will handle it for your deal.
Because Birmingham Title is so dedicated to anticipating and fulfilling our clients’ needs, we have a suite of commercial underwriters to pick from. Each underwriter we have chosen to partner with represents a national brand that carries confidence, longevity, and integrity in the title insurance world. As a commercial title agency with multiple commercial underwriters, we have a unique and distinct advantage over the direct operations offices for each underwriter. A common misconception about direct operations offices is that they have better resources available to your clients, when, in fact, Birmingham Title has the exact same access to the same resources as direct operations. We have cultivated relationships with each of our commercial underwriters which allows us the ability to successfully curate custom-made title products to fulfill the desired coverage for your clients.
Commercial title insurance does not have to be a one-size-fits-all model. We have underwriters that are experts in construction (link here to construction page) and cannabis (link here to cannabis page). We can provide commercial title services throughout the entire state of Michigan. With our collection of national underwriters, this allows us to access a network of experienced commercial title agencies around the country, so if your transaction involves real estate in multiple states, you only have to deal with Birmingham Title Agency.
Birmingham Title Agency has an exclusive network of real estate professionals. As a result of decades of work in the real estate law and business law fields, we have connections with the best in the industry. This allows Birmingham Title Agency to be a beneficial resource to you and your clients long after closing. From probate and estate planning, to liquor and lotto licensing, to financing and investment opportunities, to bankruptcy and corporate restructuring, we have the professionals you need for the next step in your business.
At Birmingham Title Agency, we understand that it can be difficult to produce decades old operating agreements, trust certificates, and corporate resolutions. We also understand that most small businesses are focused on running their companies and with only a few members, do not have the time to document the legal structure of their companies. When we ask for company documents on our title commitments, we are always ready and willing to help you draft them if you cannot locate them or never had them. The attorneys at Birmingham Title have formed thousands of small businesses over the years and we can guide you through the often confusing legal documents whether your company is brand new, or has been in your family for generations.
Our land contract services
While also seen in residential real estate, land contracts are primarily used in commercial and investment real estate transactions. As real estate attorneys, Birmingham Title Agency can guide you in navigating whether a land contract is right for you, draft the land contract, and hold the warranty deeds in escrow. Small businesses especially rely on this type of seller financing when a traditional loan is difficult to obtain. Having Birmingham Title Agency act a neutral third party in handling your land contract preparation saves legal fees for the parties and provides that desired full-service experience. Escrowing the warranty deed eliminates headaches and confusion when the time arises for the land contract to be paid in full. Birmingham Title can handle the escrow services for the final payoff, draft the necessary releases, and record the warranty deed, eliminating the need to involve additional attorneys.
The last few years have encouraged the title industry to take great strides in providing a variety of options for buyers and sellers to close their real estate deals, anywhere, any time. We’re committed to offering multiple closing options, all secure and reliable, to accommodate clients who prefer a classic at-the-table closing; those who prefer to keep their distance as much as possible; and those whose schedule or location doesn’t permit an in-person closing.
In-person closings (together, or apart)
There’s nothing like an in-person closing to feel the excitement and accomplishment of getting a deal done. Even during COVID, we’ve committed to keeping our office open, while maintaining appropriate safety protocols for sanitizing, masking, and social distancing. Our multiple conference rooms allow us to “stage” closings throughout our office. We can accommodate all comfort levels—just let us know your preferences.
Remote closings are the “new normal” in the title industry, because many of our clients either cannot or prefer not to take hours out of their day to attend an in-person closing. We are fully equipped to make your closing happen when and where works for you. We can arrange a mobile notary to meet you, literally anywhere in the country and at any hour, to conduct your signing and then get the documents back to us.
Signatures on most of our documents can take place over DocuSign, anywhere you have an internet connection to your computer, phone, or tablet. Where there are documents that need to be notarized, we can even arrange for notarizing to take place via a smart-phone app, for a completely mobile and paperless experience.
Most people think of closing as an in-person at-the-table event, but a “closing” is really just a process of gathering and distributing funds and documents. As long as the parties are on board, that can happen in a very piece-by-piece way, over days or even weeks. However complex the closing might turn out to be, our closing agents can shepherd the process to make sure everything is collected, reviewed, confirmed and released to the parties.