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Updated almost 6 years ago on . Most recent reply

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21
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0
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Greg Tunes
  • Wholesaler
  • Metairie, LA
0
Votes |
21
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Subject to financing VS Quit Claim Deed

Greg Tunes
  • Wholesaler
  • Metairie, LA
Posted

What is the difference between buying Subject to financing VS Quit Claim Deed (Quit Claim if you've done your title search homework) from a liability standpoint? 

Are there pros and cons between the two documents (responsible for the mortgage, due on sale clause, etc.)?

Most Popular Reply

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548
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270
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Jason Dillard
  • Real Estate Broker
  • Greer, SC
270
Votes |
548
Posts
Jason Dillard
  • Real Estate Broker
  • Greer, SC
Replied

@Greg Tunes if you get a quit claim deed your not getting title insurance. It's worth the expense of having a closing to be able to get to your title insured. In 20 years and hundreds of transactions I have only had to file one claim. However, that one claim paid out about 75k.

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