I have been on both sides of the phone for this conversation.

They're not a broker, but they do work with 75+ banks -- could save you 20 phone calls if you tried someone like them in your area.

They recommended I use a quit claim and never mentioned a grant deed (nor did I see that mentioned as commonly used for family transfers in my own cursory research).

Very common in India to have significant wealth tied up in gold jewelry.

That is it, and only once was I actually asked to produce receipts, which I did.I don't see it as such a big problem.With bigger institutions I find this very common, I too recently had a lender require an organized list of repairs that I have done with the house within the 90 days in order to close.

I don't know if an arrangement like this is common in the real estate market or goes by a certain name, i mean certainly i'm not the first person to think of this, so what is this called, and what are the typical terms that the investor would look for?

Think of the land trust saying yes, I own the property but it is "In care of: John Doe""Illinois Land TrustIn Illinois, and in five other states, legislation has been enacted that creates a special type of trust, commonly referred to as an "Illinois Land Trust".

I've learned more from talking to sellers, agents, visiting properties, taking angry phone calls, etc in the past couple of weeks than I can write here.

Sending photocopy of check (or scanned electronic copy) is common practice.

Use some common sence, allow profits as well as keeping the ripoff artists out of the buisness