Posted on: 08th Oct, 2009 04:56 pm
Hi, I lost interest of my property and got involved with an agent to work on a short sale. In order for them to work with the bank and buy the property in a short sale, I had to sign a quick claim deed form. I do know that they are valid agency, but still I am worried about signing that form. Can you please explain to me if is in some way necessary to sign that form for them to negotiate with my lender on a short sale? Thank You so much
there is no reason for you to sing the quit claim deed, if they are negotiating on behlaf of you, with the bank
if the quit claim deed is recorded in the county, you are no longer the owner of the property. but you are still liable for loan payment
if the quit claim deed is recorded in the county, you are no longer the owner of the property. but you are still liable for loan payment
Hi miguel,
I agree with Sunny. I don't think there was any need to sign such a form. The real estate agent could have participated in the short sale auction and purchased the property from there. If you have signed a quitclaim deed, it means you've transferred your property to the real estate agent. However, you're still liable for the mortgage dues.
In my opinion, you should get in touch with a real estate attorney and check out if you can take any steps against the real estate agent.
Thanks
I agree with Sunny. I don't think there was any need to sign such a form. The real estate agent could have participated in the short sale auction and purchased the property from there. If you have signed a quitclaim deed, it means you've transferred your property to the real estate agent. However, you're still liable for the mortgage dues.
In my opinion, you should get in touch with a real estate attorney and check out if you can take any steps against the real estate agent.
Thanks