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Remove Name From Public Records All Locations : Nationwide Real Estate Advice

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Showing results for Remove Name From Public Records [Clear search]
Fri Feb 2, 2018
Rich Wyant answered:
The crime aspect in youngstown is way over rated as far as I'm concerned. I live in the historic district in Boardman, right near youngstown border. I have had not a single problem in 4 years. We have children and I am not the slightest bit concerned. Make no mistake, there are a few small isolated areas on the east side where I wouldnt even drive through.....but my opinion as a life long Boardman-Youngstown resident. "Crime is way over rated" ... more
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Wed Sep 1, 2010
Mr.P answered:
Hey Jeff

I moved from Des Plaines a few years ago. I had the worlds greatest Realtor sell my house.
Her name is
Jan Goczkowski email is Jangocz@aol.com 847-228-8713

She knows that town inside and out. We moved to AZ. Jan had my home staged, had the floors redone, had it cleaned a few times. made repairs. took care of the spa, and the koi pond. Marketing, Open Houses. Excellent negotiations
She got it sold. in the winter.

I don`t want a referral fee, She deserves everything she earns.
She is a Realtors, Realtor.

Patrick
... more
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Wed Sep 19, 2007
Ntfeldman answered:
WHAT?! Wait.

I'm not entirely clear what you're asking - but let me point out some things you should know. And I smell "smoke" so be very very careful. - Unless this "someone" is a family member you know and trust, and you're getting your own loan, you need an attorney.

Your credit score has nothing to do with how you take title to a home. The deed you receive from a seller (grantor) is your assurance in what you are buying and Quit Claim Deeds are generally used to remove family members or close relations / partners from the chain of title. They are not a stable form of transfer for ownership. (are you SURE this seller even owns this property?)

In most (common law) jurisdictions, a quitclaim deed is not technically considered to be a deed at all and in some jurisdictions a buyer who receives a quitclaim deed may not be considered a bona fide purchaser for value unless the quitclaim deed meets certain requirements. It fails to meet all five traditional tests of a true deed found in common law. Instead it is considered to be an instrument of estoppel, which means it estops or prevents the grantor of the quitclaim deed from later claiming that he or she has an interest in the property. Title companies may be unwilling to issue title insurance based on a quitclaim deed; thus, quitclaim deed holders may have to obtain further proof that a bona fide sale occurred or institute a "quiet title" action in a court to obtain clear title. If you don't/can't have clear title (or insurable title), you will not be able to get a loan on the property - no matter what the value. I own a title company. You need to be very very careful about what you may be getting into.

Also, you can not take over someone else's loan or payments just because they pass a quit claim title to you - unless the lender allows you to take the loan on - and non-qualifying assumables are very very very rare these days. If you just step in and make payments and think the lender won't find out the deed has changed hands, think again - they get noticed and the deed is filed in public records. This is called fraud, you can go to jail and they will invoke the due on sale clause on the party whose name is on the loan and the loan can be called (accelerated for full payment) for non-immediate payment they will foreclose on the security (your home) You can find yourself in deep financial trouble or without a house and no title to defend your ownership. I'm going to assume since you asked if you would qualify that you're planning to get your own loan - then your lender will expect a warranty deed, not a quit claim deed.

Will you qualify? ..... for what? A loan to replace the loan of $620K? Or a loan for some ratio of $917K? Qualifying for a loan depends on your credit score, the equity you're putting in the property, your current debit obligations above and beyond your housing expenses, and most importantly your income to "qualify". The loan value is partially established by the appraised value of the property.

I would be very very suspect of someone who is not willing to transfer a warranty deed and if you need a loan, you have to get an insurable deed anyway.

Be sure you want to be responsible for the choices you make... Caveat Emptor!

It sounds like you've got an opportunity to purchase a property at substantially below it's value. And it's wonderful to get a great deal. But please protect yourself and go the traditional routes - get title insurance, control the deed, get your own loan on your own merits. There's no legitimate reason not to.

I hope this helps - at least speak to an attorney about the situation.
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