Dear Wayne County Property Owners or Perspective Owners,
During the current year the Federal Trade Commission, once again cited the metro Detroit area as one of the two anti-competive markets in the nation for the provision of title insurance services. As a result, the residents of Wayne County and its surrounding communities have not been afforded the opportunity to comparison shop for what is a very necessary and costly component of real estate acquisition.
To assist you in a comparative exercise while selecting your title insurance provider I have constructed an easy to use rate chart. This information is consistent with the Federal statute intended as a consumer safeguard for real estate purchases commonly known as
RESPA. The rate calculator pertains to the cost of title insurance incident to the purchase and closing of property in Wayne County, Michigan.
The links to the left refer to various support sources which highlight the need for this consumer information long before a closing takes place. Shopping before the closing is critical during a time when most individuals are making the largest financial investment of their lifetime.
It is my hope this information utilized early within a real estate transaction will result in a more competitive arena for title insurance and a stimulated housing market for Wayne County, Michigan
Bernard J. Youngblood
Wayne County Register of Deeds