Home Buying in Gilroy>Question Details

Marc Perkel, Home Buyer in 95020

Need info on a Quit Claim Deed

Asked by Marc Perkel, 95020 Thu Apr 9, 2009

The seller's addendum has this which looks very strange to me:

17) Deed & Title: The deed to be delivered at closing shall be, as determined by Seller, a
Special Warranty Deed, Quit Claim Deed or a similar form of deed for the specific jurisdiction
in which the Property is located and any reference to the term “deed” herein shall be construed to
refer to such form of deed. Once closed and recorded, the title company and/or the closing
attorney shall furnish a copy of the final recorded deed to seller via fax at 503-525-7297. Title
insurance to be delivered by Seller shall be insurable title unless delivered by Quit Claim Deed
in which case Seller will not provide title insurance. If Purchaser raises any reasonable
objections to the quality of Seller’s title, Seller shall have the right to cancel this Contract by
giving written notice of the cancellation to Purchaser and returning Purchaser’s Earnest Money
Deposit.

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Answers

5
Get your realtor to do an addendum requiring clear title
0 votes Thank Flag Link Fri Apr 10, 2009
What does your Realtor say?
If you are financing this property the underwriter will require clear title also. Quitclaim will not be sufficient.
Banks think that they are above the law in some cases, perhaps this is one.
Good luck.
0 votes Thank Flag Link Fri Apr 10, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
The seller must deliver a clean deed in the State of Ca. Your Realtor can explain this to you, as can the title company. This is typical language, unfortunately, in a lot of bank contracts.
Web Reference: http://www.agogonow.com
0 votes Thank Flag Link Thu Apr 9, 2009
The Hagley G…, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
The seller is a bank and a shady one. I'm sure the selling bank wrote it up. I am goiing to demand a clean title and full disclosure.
0 votes Thank Flag Link Thu Apr 9, 2009
Marc, that is a strange addendum. Seller's generally use a Grant Deed in CA.

You should consult your Title Company/Escrow Company for legal advice, if not a regular attorney knowlegable in real estate law. Try to get the scoop directly from the Title Company, as they will be insuring your clear title. They should be able to provide you with a "Chain of Title" which tells you who sold the property to who and when. Maybe theres a missing signature somewhere. Who knows. It sounds like he says if you raise any questions, then he has the right to cancel?? If you were my buyer, I would definitely raise some questions. On the other hand, maybe he's just paranoid.

Is this a pre-printed form, or something the seller wrote up? Good Luck. Don't sign until you speak to that attorney or title agency attorney.
0 votes Thank Flag Link Thu Apr 9, 2009
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