Expert: John - 10/17/2007

Question
I bought a house in Michigan last January. I have no equity in the home, as it was a no money down loan. As you probably know, Michigan unemployment rate is through the roof. I am scheduled to lose my job in 12/08. I want to move to NC. Can I do a quitclaim deed to remove myself from the title and deed if I found a buyer? Do I need a realtor or anything? How should I go about doing this? I don't want to scar my credit. Is it legal to advertise quitclaim deeds?

Answer
Hello,
I found your question in the question pool and may be able to help you.

Why to you want to quitclaim ???

Ok, first, I am sorry to hear about the job lost.

If you find a job in NC, can you get a transfer to buy your house?

Why not sell the house?  Now is a good time to start selling.  Always sell with a Realtor.  87% of all buyers buy thru a Realtor.

I have never hear of what you asked.

Quitclaim is for when you want to add someone or transfer to someone like family.  

Contact a real estate attorney.
John