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I am purchaseing a house that has been forecosed on from the

Posted on: 18th Feb, 2008 11:51 am
in the purchase and sales agreement i signed through the realty co. that it is going through it stated that it was a warrenty deed and when i got the copy back from the mortgage co. aftre they signed it they changed it to a quit claim deed. should i proceed with the purchase? or am i looking for trouble.
Hi Dunkinterri,

Welcome to the forum.

As you are purchasing the house, I think you should better ask them to use a Warranty deed. Actually quitclaim deed does not assure you that the title is free from liens but Warranty deed does.

Feel free to ask if you have any further questions.

Thanks,
Larry
Posted on: 18th Feb, 2008 12:55 pm
Do not accept a quitclaim deed. Use should use a limited warranty deed or a simple grant deed. A quitclaim deed in this situation is basically meaningless.
Posted on: 18th Feb, 2008 02:55 pm
i am in agreement once again with jheard. a quit claim deed transfers only what the grantor owns (and that may be nothing). by no means should you accept a quit claim in this matter.
Posted on: 19th Feb, 2008 10:41 am
Hi ,I am from a small town in TX and am interested in buying foreclosure property at the court house as this year I lost my home because of personal reasons but I do not know how to start with .I also contacted the bank that owes it but they also were of no help as they said that when it does not sell at the court house than when it comes back to them they will know it.I do not know is it safe to buy at the court house the foreclosure properties and what homework to do before bidding on the property Please I need serious help and a brief answer .Thankyou once again for taking time to read the question
Posted on: 16th Aug, 2008 02:15 pm
Hello walamhow.

Your question has been answered at http://www.mortgagefit.com/homeloan/foreclosureproperty.html#58004

Take a look at it and feel free to ask if you have any further queries.
Posted on: 18th Aug, 2008 06:36 am
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