Quit claim deed signed by buyer at closing?

[Mike Mitchell]

A fellow investor told me that he was using a tactic recently whereby he has the buyer sign a quit claim deed at closing. The seller-financer does not file the deed unless the buyer defaults on the note. The buyer understands that if he is out of compliance with the deed of trust, then the seller-financer will immediately record the quit claim deed. No messing with foreclosure, trying to collect etc. Is this possible? If a buyer refuses to sign it, it might be a good indication to find a new buyer. Any thoughts?