Legal Question in Real Estate Law in California

Re: Quick-Claim Deed

You are headed for disaster. If you don't know what a QUIT (not Quick) Claim deed is, how on earth will you know all of the other facets and disclosures involved in the sale of real property.

The lender has no interest in helping you sell your home. Why would they go to such work and possible liablility without being compensated.

If you have a buyer, that is fine. You need to go to a real estate attorney in your area to have him or her draft a contract between you and the buyer, and guide you as to disclosures that are required by state law. Otherwise, I guarantee that you will be in a lawsuit or will have been cheated out of some of your equity.

Re: Quick-Claim Deed

a quit claim deed is a deed that offers only the interest you actually have within the property, and absolutely does not guarantee marketable title to the buyer. it is the "weakest" title a person can have on a property more or less. as far as your mortgage company goes, i would need additional facts, especially in respect to whether or not the mortgage is fully assumable or not. this is very important regarding your liability on future payments. but to make a long story short, i would need much more information from you regarding your mortgage, the buyer, why you are choosing to sell the home on your own and thru a quit claim deed, etc...to be able to assist you better. i would however strongly suggest going thru an attorney or realtor in selling your home from the facts given so far just to ensure you do not being "ripped off" or on the losing end of a lawsuit down the road if you do not make all mandatory disclosures, warranties, etc..an attorney might be a cheaper option if you just want a "legal land sales contract" drawn up to protect your interests and possible liability. this could be a much cheaper option that paying realtor sales commissions if that is your main concern in this transaction. if you would like further assistance and/or legal representation in this transaction, email my office directly with more details and let me know how you would like to proceed. thanks for your question, Brenda.

Re: Quick-Claim Deed

Stop! Do not quit claim title to your house (that is the correct term, not "quick claim"). If you give a deed to a seller without him first having paid off your mortgage with either cash or a new loan, you will still be responsible for the mortgage and no longer own your house. Selling a house responsibly and with the requisite protection for yourself involves much more than simply giving a dded--there should be a title policy, taxes and insurance need to be taken into consideration, and a host of other issues; if you do not want to use a realtor, at least find an escrow scompany to held you through the transaction.