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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/is-that-also-not-typical-in-other-places-nope-30488679.aspx

Subject:  Re: Foreclosure occupied Date:  1/16/2013  12:57 PM
Author:  ptheland Number:  124569 of 127811

Is that also not typical in other places?

Nope.

In CA, we generally use Grant deeds to transfer the property from seller to buyer. Quit Claim Deeds are typically for non-sale transfers, such as adding a new spouse to the title or moving property into a trust.

On the title insurance, sellers typically pay for that, but it can be negotiated. If the property is financed, the buyer will also buy a title insurance policy for the lender's benefit. So yes, there are two title insurance policies on a single financed sale transaction. My understanding is that they have some different terms, although I couldn't tell you what the differences are.

--Peter
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