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What type of deed do I need?

There are three basic kinds of deeds: a general warranty deed, a special warranty deed, and a non-warranty or quitclaim deed. If you are a buyer, you want your deed to get you everything you bargained for. If you are a seller, you do not want to make promises about the property's title that you cannot keep.

What kind of deed do I need?

There are three basic kinds of deeds: a general warranty deed, a special warranty deed, and a non-warranty or quitclaim deed. If you are a buyer, you want your deed to get you everything you bargained for. A general warranty deed is the most common. Most home sales between strangers involve a general warranty deed.

Which type of deed is used in foreclosures?

Bargain and sale deed This type of deed sometimes is used in foreclosure and tax sales. Warranties can be put into the deed to make it similar to the special warranty deed, and in that case, it's referred to as a bargain and sale deed with covenant against granters acts.

Who can prepare a deed?

Whoever has their name on the deed is the rightful owner of the home, so it's one of the most important documents in buying or selling a home. The seller typically prepares the real estate deed, usually with the help of a title company or an attorney to ensure the property transfers successfully.

How much does it cost to prepare a deed?

Rates vary by state and law office but typically fall in the range of $200 to $400 per hour. Title companies routinely prepare quitclaim deeds in many states. Fees for title companies vary, but a market scan shows an average of $100 to $200 for a simple quitclaim deed.

Do I need a lawyer to file a quit claim deed?

A quit claim deed transfers the legal ownership of the property from one party to another, and doesn't require attorneys or legal help, unless you choose to consult an attorney.

Who pays deed preparation?

Deed Preparation This fee is for drafting the document that conveys the property from the seller to the buyer and states the warranties and rights that the seller is granting the buyer. In most closings, I find that the seller pays this fee, at closing.

Can I prepare my own deed?

Although you can prepare such a deed on your own, thanks to the many deed of sale sample letters available out there, it's important to protect yourself by at least having a legal professional review it before you make it official.

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