This, I'm sure, is a complete newbie question, but where does a warranty deed come into play? I've read about what it is and what its purpose is, but when purchasing a property, as an investor, where does it fit into the logistics of the transaction? Is this document something I need to already have drawn up and ready to be signed when I'm sitting at the kitchen table with a seller? Or is it something the title company prepares and has the seller sign on closing or somewhere in between?
If it's something I need to have in hand on the day I strike a deal, is it a promulgated form or is it a custom form I need to have created by my attorney?
@Brandon G. The deed is the conveyance tool...it's what the title company attorney will draft at the time of closing. It will show the seller as the Grantor and the buyer as Grantee. In most instances, only the seller will sign it prior to the title company recording the document in the public records.
You can likely find some sample special and general warranty deeds via a Google search. It's good to learn the language included in these documents and their differences.
@Guy Gimenez Thanks for the info. Does the language in these warranty deeds differ much from state to state?
Yes. In fact, it varies from document to document even within a locale and depends on who drafts it. My SWD's contain AS-IS language, which is not the norm.
Thanks @Guy Gimenez
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!