Buying or Selling a Home/Quit Claim Deeds

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Expert: - 7/2/2006


Question
Hello I own a place with a 150,000 mortgage If i were to Quit Claim the place to some one how much more paper work would I have to sign do I transfer the mortgage to the other indivcidual provided the lender approves also if I change my mind can I stop the show?

Answer
Based on your question and how you phrased it, Terry, I strongly suggest you have a REAL ESTATE attorney handle it for you. If you know a very knowledgeable Realtor, that person should be able to do it for you, too.

When you transfer title to property to someone else, it should be done correctly, even if it is with a quit-claim deed. As long as the lender approves, you should have not trouble. But I suspect the transferee is not able to get his own loan. But that is for you and the transferee to work out.

I do with you well.


Dick Dennis             dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

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Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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