Also i know i need an authorization to release signed by all people on the mortgage but do i need anything else to take ownership. should i switch the deed over to my name and could someone give me a brief summary on that process. sorry im new

What if the person who can authorize the release of funds just died or got carted off to jail?

Investor Home Purchases Collapse Most On Recordhttps://www.zerohedge.com/mark...THURSDAY, JUN 01, 2023 - 05:00 PMResidential real estate brokerage firm Redfin released new data that revealed a record-breaking drop in homes purchased by investors in the first quarter.

I plan on having full disclosures and release of liability agreements in any paperwork for the deal but is that enough?

Redfin just released the results of a survey but seem to presenting the data a very slanted way.

I still contend most people can be found...but just because they are found doesn't mean they will respond.My Fear would be that if they are not responding now, will they provide lien release when paid on full?

Can this potential nightmare be prevented by having a clause in the seller/buyer 1 agreement that specifically states buyer 1 can't sell the property to another buyer unless and until the mortgage is paid in full thereby releasing the original owner from the mortgage?

Not sure what escrow hasn’t released the deposit to you.

A quitclaim deed transfers nothing; it merely releases any interest.

Some state you don’t need any reason, just send release and termination before contingency period ends, then your deposit is returned.