QUIT CLAIM deed (please help a newbie)
Straight to the point
3bd 1bath SFH listed at 55k estimated value at 95k
If it seems too good to be true, It probably is ...
"Prior to seller receipt & approval of the full title package from foreclosure title to property will be conveyed by a quit claim deed"
My basic translation, "Before the seller gets the 55k, the buyer will be stuck with the possibility of liens on the property, 2nd mortgage issues, tenants, and other trash to be taken out before any exit strategy will be possible."
As a newbie I want to do as much due diligence as possible.
This was a VA loan. VA loans can not be second mortgages.
I drove by the property, exterior is in good shape.
Through the window, clean and empty. I dont believe anyone is living there.
I have yet to contact the listing agent
- Am I able to ask the listing agent if the title is free and clear ?