Quit Claim No Title Insurance

[Paul Tabarovsky]

Hi all, 

Found a property significantly under market value. Not sure how to go about finding all the variables, such as leans, etc. 

Offer states. 

Buyer will receive quit claim deed with no title insurance. Seller will not be conveying clear title. 

Buyer will be responsible for any items on the title (ie; code violations), and seller does not have a title report. 

What steps should i take in finding out how much is owed, if i can get title insurance, etc.? 

[Alphonso Oates]

@Paul Tabarovsky

A title company or Real Estate Attorney should be able to identify any liens on property. Without the title report you can’t know your financial risk.

After titling, it's called a net offer. Meaning after all liens or outstanding balances are deducted from ARV or resale price you can calculate your best offer price.

Overall, standard due diligence still applies, if it is allowed I would still inspect, clear title, and pull COMPS.