Seller Insisting on Quit Claiming his Property

[Sandy Uhlmann]

I am a novice at wholesaling property and I have a motivated seller who insists on quit claiming the property. He states that he purchased the properties as an REO from the bank via a quitclaim. Can this be done within a wholesale deal? Is the paperwork any different? I appreciate any advice.

[Wayne Brooks]

If he's trying to do a tax dodge, he may be in for a very rude awakening, but that's not your problem.  You will/should still have a closing, and likely a closing statement.  The QCD is not a problem here, although a Warranty Deed is preferable even if it gives a somewhat false sense of security.  As long as he is the Only person on title, title is clear, and you get title insurance, I see no issues.  It wouldn't be any issue for me, here.  Talk to a local RE attorney/title co.