Updated almost 8 years ago on . Most recent reply
Interpreting Title Search Findings Quit Claim Deed
The other day my partner and I had come across a home on an online auction site. It had a quit claim deed attached to it so we had a title search done. The people at the title company told us that a woman took out a mortgage on this home recently. This I can't imagine being a best case scenario, but I am wondering two things. The first is that I came across a few websites and YouTube videos that suggested in a quit claim deed a mortgage doesn't transfer from seller to buyer - is this true or false? And secondly, if you were in my shoes would you walk away or continue to proceed with the purchase - if continuing with the purchase, what should the next steps be? This would be my first home purchase so I'm still new and learning. Thank you!