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Updated about 15 years ago on . Most recent reply

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120
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LeJon Ratchford
  • Huber Heights, OH
15
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120
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Whole selling a quit claim

LeJon Ratchford
  • Huber Heights, OH
Posted

I have a potential seller that is interest in selling their home. They asked me was if it OK to sell it under a quit claim? Being I am whole seller how would this work? Would this be the same as it would with a general Real Estate Contract? Also do these deals have fast closings?
LeJonR

Most Popular Reply

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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,127
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

If they're willing to give you a deed to the property without getting paid, you could certainly do that. I don't know why anyone in their right mind would do that. So, that makes me think they're scamming you and giving you a quit claim for a property they don't own or don't fully own.

If you want to take that deed and move ahead, contact a title company and see if they will issue a title policy on it. If their search shows these people really own it and there aren't a bunch of liens, it might be a deal. I suspect they either don't own it, don't own it fully, or its encumbered with a bunch of liens.

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