Quit Claim Deed, No Financing

[David Wright]

I see MF deals frequently here in Detroit that list "quit claim deed only, no financing". To me, that sounds like they are probably hiding something that a bank wouldn't overlook, but a newbie like me would miss.  Am I reading too far into it?  I've walked a few of the properties and don't see anything crazy; they need rehab, but I'm expecting that and calculate it into my numbers.  Is there maybe a problem with the title? Another lien?

[Christopher M.]

@David Wright

Many times its just to get it off their books as quick as possible. It not usually malicious.

A bank will not finance a property with out warranty deed. 

You are not reading too far into this. There is absolutely something a newbie could miss.

There will often be back taxes, back water bills, other liens.