Legal Question in Real Estate Law in Michigan
Quit Claim Deed
I have a person interested in buying a house from us. He mentioned we can quit claim him the house at the bank, and the bank would pay us a check for what we are asking. Is any of this true? It sounds funny to me...Thank you...Meghan
2 Answers from Attorneys
Re: Quit Claim Deed
You need to be very careful with these "suspicious" transactions. Remember, whenever you transfer your real property to another, once you sign the document, you have absolutely no more interest in the property. Therefore, it is essential you have a contract in place before signing any documents. I recommend you allow an attorney to represent your interests in this transaction.
Re: Quit Claim Deed
First you should have them sign a Purchase Agreement with the price and how they are to pay you even if in cash. You also have tax froms that will need to filled out. My advice is to hire an attorney to represent you at the closing.
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