He ended up doing a double closing when i thought i was buying directly from a regular seller.

When buying with seller finance from a regular owner occupant homeowner, there are exemptions that mean there is usually little impact.

And in that scenario, the agency wouldn't be able to handle my claim/pay me out, as they would probably go under - even if it is a state agency.

If you have a junk offer with junk terms it's better many times to reduce the price a little and try to do a regular deal.With owner finance the seller still has to worry about the property,that you will file BK,that your LLC will file BK,that you will leave the property in worse shape then when they sold it to you,and a whole host of other scenarious like that.

You're living there and its your primary residence at the time of the quit claim.

I guess if your going conventional refi you need to have the property quit claimed back to your personal name for 6 months before Fanny or Freddie will even consider the refi.

If it makes sense, "move back in", claim it as your primary residence, receive mail there, receive voter card there, register your cars there, get a license there, yet vacation in your second home until the primary home sells.Thanks,Jason

Generally, how long does it take for a Quit Claim Deed to be filed in Cook County?

Foreclosure wipes all claims to the property, including leases.

Understand that insurance is designed to insure catastrophe, but has evolved to the point that we expect to be insured for leaky faucets (ok, I'm over exaggerating here)The question to ask yourself is: would I have to put in a claim to replace damage caused by a falling tree or a broken washing machine hose if the damage was, say, $2500.