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FIRST ANSWER
Quick Sale: One that occurs quickly. But I'm not sure that's what you meant.
If you meant a "short sale," that's one in which a property is sold for less than is owed on it. For example, let's say someone bought a house two years ago for $300,000. They need to sell, but the house is only worth $250,000. It's put on the market for $250,000 as a short sale. That means that the lender (who is owed about $300,000) must approve the sale because the lender will be "coming up short" (thus the term "short sale") if the house is sold for that lower figure. It's similar to a normal purchase from an owner--you make an offer and the owner accepts it--except the acceptance is contingent upon the approval of the lender.
If you meant a "quit claim" (you probably didn't, but that term is often incorrectly referred to as a "quick claim"), a quit claim is a simple way for someone to transfer whatever ownership rights they have in a property to another person. However, it's not always the best way to do so. Anyone contemplating a quit claim should consult with an attorney first.
Hope that helps.
Mon Apr 20 2009, 11:27