Do you want to sell your home but you’re worried because your house has a quit claim deed? Or are you in a dilemma because you don’t know how to sell a house with a quit claim deed? Not to worry, this article will explain everything you need to know about selling a home with a quitclaim deed.
What Is a Quitclaim Deed?
A quitclaim deed is legal paperwork used to transfer interest in a property to a new owner. The problem with a quitclaim deed is that the document doesn’t state if the person giving away their claim to the property had true ownership. However, it ensures that the person (also referred to as the grantor) cannot claim any interest in the property anymore.
What Does a Quitclaim Deed Include?
The deed, in this case, covers information like:
- A legal description of the real estate property
- The name of the grantor who transfers his or her interest in the home
- The name of the grantee who is getting that ownership interest in the property
- The date
- The notarized signatures of the two individuals
Can You Sell a House With a Quitclaim Deed?
Selling a house with a quitclaim deed is a quick process that doesn’t require too much paperwork. However, this process poses a significant risk for buyers when using a quitclaim deed to transfer ownership of property. This means sellers will have a hard time finding buyers for a house with a quitclaim deed. The best way to sell such a house is to sell between family members such as close friends, a spouse, or an ex-spouse. Otherwise, finding potential buyers may take a while as their right to a property will face risks with a quitclaim deed.
Tips for Selling a Home With a Quitclaim Deed
Before you sell a home with a quitclaim deed, you should go online to find a template of a quitclaim deed. Ensure the deed includes the information about the property and payment between the two parties, the names of the witnesses, the name of the grantor and grantee, the notarized signature of the two parties, and the signature of the notary public.
Also, you need to ensure that it’s stated in the deed that the real estate property is being sold as-is. Afterward, you proceed to file the documentation with the county clerk. You should prove the buyer with more proof that they’ll gain complete ownership of the property after filing the quitclaim deed.
Conclusion
You can sell your home with a quitclaim deed if you adhere to the tips above. Find a close friend or relative who’s ready to buy your home using a quitclaim deed. Otherwise, you may need to find a real estate agent to help you find a buyer.
Another option for selling your home with a quitclaim deed is to sell to a cash house buyer. At Best Offer OKC, we buy houses Oklahoma City at the best price. Selling to us means you can sell your house as-is without having to pay realtor commission fees.
Contact us today to learn more about our services!