I have had a few owners insist on a quit claim because they believe that is the same as selling as is, they do have good title just don't want any left over problems, specifically related to condition and believe that is the best way to do it.Of course the others nailed it on the head about quit claim deeds, but once in a while they are useful, divorces, ex-heirs, etc. so don't throw out their use totally.

@Kevin and BrianThis discussion was preliminary and I too want to nail down some costs, credit limit, and a rate.

NAR is going to nail these vegas agents eventually for charging these fees.

So don't look at what the market is today look at what the saturation levels and pricing will most likely be when you come to market with a finished product.Don't be too rosy in your projections.This is what killed many developers who used high leverage and bought in 2007.They overpaid for the old building or land,used too high an ltv (90%),and had high rents expected on the cash flow which skewed the projects anticipated returns.When things finally came to market debt service was high and rent income was low and many developers with non-recourse walked.Today everyone wants to nail you to the wall to lend any money so you have to be ultra conservative in your numbers.

Steve L hit the nail on the head...in my market there's about a 5% bump in appraisal for condition.

And if they sell it, they have to pay $30K right off the top.Yep, there are intangibles like being able to pound a nail in a wall or paint a room purple without worrying about your security deposit.

If it were to be cut in half via a re-zoning issue, he/she would fight tooth and nail to stop that and if not successful, would likely not buy the parcel.Good luck to you and as already stated, start with the planning department.

Joints will seperate, nails will "pop" and loosen giving you a squeaky floor.

As always @annbellamy hits nail on head...If a hard money allows you to move forward on a profitable investment after paying the lender, you should strongly consider it, understanding there is risk in the event of nonperformance.

If it's pretty big, you'll also get nailed with higher insurance costs due to the square footage and possibly higher property tax bills.