Difference between special warranty deed and grant deed
Hi,
I'm interested in purchasing a foreclosure property and the seller is selling the home with a "special warranty deed". What's the difference between a "special" and "grant" deed that is sold with most properties?
Thanks
I believe that, in a grant deed, the seller won't defend the title against third party claims. Although, unlike a quit claim, they have disclosed any liens against the property. So it's weaker than a special warranty deed which guarantees there are no issues that arose during the seller's ownership.
Like @Account Closed says, just make sure you have title insurance. If the seller isn't providing a policy, get your own. Pay attention to any exceptions.