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Updated over 9 years ago on . Most recent reply

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Makango Malondji
  • Detroit, MI
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transferre via quit claim deed. is it safe?

Makango Malondji
  • Detroit, MI
Posted

I'm in talks with a motivated seller who would like to exchange contracts with me via a quit claim deed. Is it a safe bet and will i be in control of the property??

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Anyone can quit claim anything, whether they own it or have any right to it or not.  A thorough title search will verify if they even have a right to anything.  I have quitclaimed my position in an option to someone in exchange for a fee before.  Make sure this person has an interest worth paying for @Makango Malondji  If it's just some shady wholesale deal with a weak contract from a potentially forged seller, verify it!

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