Title insurance. Most buyers and sellers see it as just another line item at closing — but it's actually one of the most important protections in the entire transaction. And most people don't fully understand what it does, who pays for it, or what's really happening behind the scenes between the time you go under contract and the day you get keys.

If you have questions about the buying or selling process, I’ve created a couple of free guides you can download at your convenience:📖 *Home Buyer’s Guide:* https://www.leslieemartin.com/download-the-home-buyers-guide/📖 *Home Seller’s Guide:* https://www.leslieemartin.com/download-the-home-sellers-guide/ In this episode, I'm sitting down with William Marx, General Manager at Title WRX Agency in Royal Oak, Michigan, to break all of it down in plain English. William has seen thousands of closings, and the depth of knowledge he brings to this conversation is something every buyer, seller, and real estate professional in Metro Detroit needs to hear.

We cover what title actually is, why the claim rate being low doesn't mean you don't need it, who pays for the owner's policy in Michigan (spoiler: it's usually the seller), and how to spot an Expanded Eagle policy in a purchase agreement before it costs your client more money at closing.

We also get into the full behind-the-scenes process from the moment a title order is placed, what a title commitment actually means, how wire fraud happens and how to protect yourself, what to expect on closing day whether you're a buyer with a lender or a cash buyer, occupancy vs. damage escrows and why confusing the two is one of the most common agent mistakes, how AI is already changing title search and order processing, and what the new FinCEN reporting rule means for cash buyers, LLCs, and trusts in residential real estate.

This is the kind of conversation that makes you a smarter buyer, a better-protected seller, and if you're an agent, a stronger advocate for your clients at the closing table.I'm Leslie E. Martin, and I look forward to helping you make your next move.

*Contact Leslie E. Martin, Realtor® | Metro Detroit Real Estate Expert*📧 leslie@leslieemartin.com📱 Phone: (734) 846-8358🌐 Website: https://www.leslieemartin.com💼 LinkedIn: https://www.linkedin.com/in/leslie-martin-68a9a922a/💼 Google Business Page: https://share.google/UUzTvC67ItmnyRg4p🏡 Zillow: https://www.zillow.com/profile/LeslieEMartin📸 Instagram: https://www.instagram.com/leslieemartindtw🎥 Youtube: https://www.youtube.com/@leslieemartin📖 Canvas Rebel: https://www.canvasrebel.com/meet-leslie-martin-2/📘 Facebook: https://www.facebook.com/LeslieEMartinRealtor

*Chapters*00:00 What This Episode Covers

01:05 What Is Title? The Legal Foundation of Real Estate Ownership

03:30 Title Insurance vs. What Title Companies Actually Do

05:27 Who Pays for Title Insurance in Michigan and Why

07:40 Expanded Eagle Policy: The Line Item Agents Overlook

09:08 What Happens After a Title Order Is Placed

12:16 The Title Commitment: Your Search and Exam Results

15:42 Agent and Title Company: A Symbiotic Relationship

18:01 The Congrats on Escrow Email and Why It Matters

22:00 Wire Fraud in Real Estate: Red Flags and How to Stay Protected

25:29 Closing Day for Buyers with a Lender

29:27 Closing Day for Sellers

31:46 Occupancy Escrow vs. Damage Escrow: Know the Difference

37:04 AI in Real Estate and How It's Changing Title Processing

43:02 FinCEN and the New Anti-Money Laundering Reporting Rule for Real Estate

#metrodetroitrealestate #realestate #titleinsurance