Can I do a quitclaim deed or Warranty Deed on the same day of closing?

[Shawn D Augusti]

My wife and I are closing on a rental property on Thursday through a conventional Fannie/Freedie Mae loan. My questions is can i request from the closing attorney to also prepare/have quitclaim or Warranty Deed on-hand so we can deed the property into the LLC that same day?

[Trent Dues]

Yes! As long as your lender approves of the loan being taken out in your personal names and subsequently deeded into your LLC without any 'call for payment upon transfer', there is no issue signing both deeds the same day. We do this often for clients purchasing investment properties in Ohio and PA. The purchase deed will just need to be recorded first and the legal description updated on the quit claim deed, with recording info of deed one added (depending on what your county recorder's office looks for during property transfers).