(Wholesale) Quit Claim Deed - FLORIDA

[Paul Fournier]

Hi biggerPockets! I’m A wholesaler in Florida. I recently came across a deal where the seller wanted to do a “quit claim deed”. I’ve herd that this is a red flag. I also don’t understand how it comes into play when closing on a property. Could someone give me some pros and cons for quit claim deeds in a wholesale situation? What should I look out for? why would the original owner give me this instead of a normal deed when hes clearly listed as the owner of the property on local .gov sites? What’s the closing process like with a quit claim deed? He’s either going through a divorce or has just completed one. Don’t know if that matters or not. Thanks in advance BP!🤘

[Wayne Brooks]

I have bought a few properties by QCD in FL, usually sub2 some other existing liens, but I knew exactly what I was getting into and the price reflected that.  Sold them all by regular Warranty Deed, with title insurance.  Simple, get a title search and commitment from a title co., they will tell you what you need for clear title.