Type Of Deed
Hi!
I'm doing this for the first time, and need to know if one type of deed is better than another when my goal is to flip a property. I am in San Diego, Ca - if that makes any difference.
Also, should I tell the lender that my goal is flip a property?
Gratefully,
Marlene
you probably want to get it under warranty deed,might be called something else for your state.Do not tell lenders you want to flip.
It is uncommon to use a Warranty Deed in California.
If you are getting a loan on the property, you want a TRUST DEED.
If you are not getting a loan on the property or are paying all cash, or doing subject to, you want a GRANT DEED.
If you only want title conveyed, (this is used to clear up clouds on title) you want a QUITCLAIM DEED.
Do an internet search for ...
"Types of Deeds" +California
Hope This Helps!
Mrs. Meltzer
Thanks for the info about type of deed. I will indeed do a search and find out what is needed in California.
Thank you,
Marlene
If you are getting a loan on a property, you give the Lender a Trust Deed. You are giving him the right to Forclose on you if you don't pay him.