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Updated over 2 years ago,
Quit Claim Deed, Yes or No?
I won an auction on a house and the contract consist of a Quit Claim Deed. I did research at the county clerk office and the property seems to have no liens, but from what I understand, there is not only no warranty on the deed but no title company will insure a QCD. In addition, from what I understand, once a QCD is issued on a property, the property can no longer have a Special Warranty Deed if I sell it. This means that I may have difficulty selling in the future.
So my question is this. Does anyone recommend buying property on a QCD or should that be something to avoid at all cost?