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Updated over 3 years ago on . Most recent reply

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Paying all cash and closing fast, can I use a quitclaim deed?

Posted

I have properties already but I am new to the cash offer/close quickly side of it. How can I accomplish this? I have the funding to do so, title searches are currently taking 2-3 weeks at the real estate law firm I've always used. I'm hoping to find somewhere that can get it done within a week. When I am buying from an individual, what do I need to get it done correctly? Purchase agreement is first I know. Then I can order an inspection and title search. Then can I just use a quitclaim deed that I type up myself for us to close with? Or, do I have to schedule a lawyer to handle the closing? I'm trying to avoid looking like an idiot when I offer to close fast and then 2 weeks later we're still waiting on the lawyer to close. Thanks!

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Don’t worry about closing in a week if title searches takes 2 weeks there….no other smart buyer would do it without it. There’s neighing wrong with a 3-4 week close. Do Not use a QCD and buy without title insurance. 

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