Property Info b4 Quit Claim Deed Deal?

Property Info b4 Quit Claim Deed Deal?

Hello everyone,
Me and my partner have our eyes on a property that we think is a sweet deal. The seller/manager lives out of state and has obtained the properties through quit claim deeds. He told us before we make an offer make sure we do our homework because of the possibility of something being attached to the property. We have been reading about the risk associated with quit claim deeds, like someone might have no interest in the property, so a thorough check is necessary. Basically we want to make sure we are digging deep enough to find the proper information. We have looked on the recorder of deeds website to see activity but the last record was from two years ago. Any suggestions on which way to go?
Thanks

__________________

Selde Enterprises Inc.
Property Investments & Solutions
Seldeenterprises@****
http://seldeenterprises.usapropertywholesale.com/


Property Info

I urge that you get a title search and title insurance on any propety that you are considering purchasing. The title company will research the property and tell you if there are any unresolved issues in title, claims or liens on the property etc. You can learn to do your own search but let the professionals do it. Consider title insurance a cost of doing business. Having title insurance will save you from getting into a deal you can't resell because of title problems. I try to write purchase contract stating that the seller is giving good title and if they can't give good title, I can back out of the deal. In this case, if the seller won't pay for a title search/ insurance, you must do so to protect yourself.

__________________

If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125


propety info

Thanks Boconnor,
yea we were trying to cut expenses by doing it ourselves but we werent sure if our research was valid

__________________

Selde Enterprises Inc.
Property Investments & Solutions
Seldeenterprises@****
http://seldeenterprises.usapropertywholesale.com/


Quiet Title might be needed too

If you find that you have some outstanding title issues on the property, you will not be able to get title insurance. In this case, you might need to do a court action called quiet title. Essentially, you will a court action where anyone who has a current claim to the property can negotiate with you in court. Essentially, you need to clear the title, before you will be able to obtain title insurance. It will cost some additional money to do this, but it will offer you a free and clear and marketable title.

__________________

If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125


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