Closing via Quit claim deed? 5,000 deal in Chicago?

[Account Closed]

Hello everyone, 

I received a call from a motivated seller for a property he wants to sell in the southside of Chicago. He said he would take 5,000 for a 4bd/2BA property (which I just found out is a 2BD/1BA). He said roofing and siding was done and he started some work in the basement.

Then he sends me an e-mail with his requirements: 

 1. Deposit $100, non refundable. 2. Closing to be via quit claim deed, by me and at the time of giving all the documents ( within 2 weeks ), $5000 to be given in the Chase bank, via Cashiers check.

He said the building has no violations. Has anyone done a closing via Quit claim deed? I'm not familiar with the term.. but this is what I read from Wikipedia and sounds very sketchy.. 

"offers the grantee no warranty as to the status of the property title; the grantee is entitled only to whatever interest the grantor actually possesses at the time the transfer occurs.[2] This means that the grantor does not guarantee that he or she actually owns any interest in the property at the time of the transfer,[3] or if he or she does own an interest, that the title is free and clear" 

Any thoughts?