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ginger taylor
Guest
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 Posted: Mon May 07, 2007 7:14 pm Post subject: when to sign the quick claim. |
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| My property is worth at least $400,000. I am selling it to my son and wife for $150,000. My mortgage is $80,000. They have to get financing. At which point do I sign the quick claim deed? |
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Ryan
Guest
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| Posted: Mon May 07, 2007 8:33 pm Post subject: |
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| You mean that your wife and son will be assuming the mortgage? |
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 sara
Moderator
Joined: 05 Jul 2006
Posts: 1860
Location: New Brunswick, New Jersey
353.11 Dollars($)
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| Posted: Mon May 07, 2007 9:17 pm Post subject: RE: When to sign quitclaim during home sale |
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Hi Ginger,
Welcome to the forums.
You will be signing the quitclaim deed at the time of closing of the home sale. The closing is when the home sale is finalized. There will be the title company sending a closing agent to conduct the entire process.
The closing agent will be reviewing the closing documents provided by the lender and make sure that you have sign all other documents related to the home sale and paid the closing fees and escrow payments.
Take Care |
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kenstampe
Moderator
Joined: 22 Jan 2007
Posts: 146
Location: Dallas, TX
50.64 Dollars($)
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| Posted: Tue May 08, 2007 6:38 am Post subject: |
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Ginger Taylor,
For the folks that can assist you on this board, it would help if you provided a few additional details.
1) who currently owns the home? who is now on title?
2) who is going to be on title after the transaction is finished? what's your goal?
3) how much do you owe on your current loan?
4) how much do you want to gain after paying off the loan?
With this information, people can help you more accurately with regard to using a quit claim deed or using a mortgage product to accomplish this.
post back. |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1606
Location: MASSACHUSETTS
150.38 Dollars($)
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| Posted: Wed May 09, 2007 4:34 am Post subject: RE: quitclaim deed signing |
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You're right Ken. If Ginger can come up with these answers, definitely it will help me give the right suggestions.
God bless..
Samantha |
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