Is your previous lender a family member or a close friend? 

. - You've got some pretty solid information above and concurrence that it shouldn't cost nearly as much as you thought, but on a separate note, I'd like to understand your situation a bit better.You are currently just looking for a Chicago property to purchase and asking the quit claim question in preparation for closing? 

You would also want to ask what is your current rate, what rate can you get, what are the closing costs that are involved including points, ect.

@Christopher Morris I’ve got close to $3MM under ownership but then I’ve got some debt on it.

Nearly most of the newbies, close to the 90 percentile took bad deals and either had it foreclosed on or lost tens of thousands of dollars.

I'm trying to track down the title company from 2004 (which looks like it may have since closed).

Closing costs, including recording fees, transfer taxes and HOA transfer fees, if any5. 

If you're doing a 1031 exchange you'll have to close in the same name that the property you are exchanging was in. 

I'm in Orange County, we're close.

Talked to my closing attorney and he’s on it.