Why so many Quit claim deeds in Detroit?

[Tiffany Grant]

Came across “quit claim deeds” for the first time today as I was researching low cost houses/rehabs in Detroit? Is it best to steer clear or just research to ensure the title is clear?

[Lavance Reed Jr]

@Tiffany Grant I'm in the Detroit market and quit claim deed's are used to avoid the fees of a title company. They are also commonly used when there are lien's, mortgages, or money owed for taxes and a warranty deed cannot be obtained without these things being taken care of. This is generally only done on cash sales and prevent the buyer from having added expenses until they decide to do something with the property. Many homes are in a state that no bank will give a conventional loan so it tends to be a benefit to acquiring a property and making necessary updates or repairs to get it habitable again. As an investor always check the title with a company and consider title insurance. Everyone doesn't always own what they are trying to sell in Detroit. There also may be additional owner's. Good luck!