Seller Insists on Using Quit Claim Deed?!

[Chris V.]

OK - short and sweet, we made a $25K offer on a home listed for $40K. Needs $20K rehab. ARV should be $75K - $80K.

• Seller insists that I pay all expenses PERIOD.
• Seller requires 10% earnest money.
• Seller continues to ask for highest and best with every email exchange (a bit annoying, we've made it clear this is our highest).
• Seller will only transfer property using a Quit Claim deed.

Any feedback on the last bullet? Is there any way to protect myself, maybe suggesting warranty deed? I've never done a cash purchase like this so one of my main concerns is ... "is the title clear?" - What would you do? Thanks in advance.

PS: In most cases, I would just walk away, but this is in a great area, with lots of potential. The only thing stinky is the seller.

[Jon Holdman]

Tell the seller that even with a quit claim you want an owner's title policy.  A title company will do a more thorough search than you can on your own.