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Personal Finances / Buying or Selling a Home
|Subject: Re: Foreclosure occupied||Date: 1/16/2013 12:57 PM|
|Author: ptheland||Number: 124569 of 127262|
Is that also not typical in other places?
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.
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