What Deed To Use For Closing SUBJECT TO Deal

General Real Estate Investing
1

What is the best kind of Deed To use to close subject to deal. I have heard special warrenty deed is the best. Any input would be great.

2

RMORENO78,

Glad to meet you.

The correct deed to use for recording purposes are State Specific, the State you are in will determine the correct deed to use.

What state are you in?

John $Cash$ Locke

3

Thanks for replying to my posting. I am in Texas.

4

I always get a general warranty deed.

5

thanks for hte reply. I also read that General warranty deed is used for closing subject too in texas. But I recently heard that special warranty deed is good for more protection. Have you heard anything regarding special warranty deed.

6

Does anyone have additional information regarding using special warranty deeds for the state of texas. I need to close on a subject to deal and not sure what deed i should use. Also, would you sugject that i use a title company to close. If someone has the time to reveal there steps on subject to that would be great. I have been a wholesaler for quit some time…new to subject to.
Thanks
Rob

7

Rob,

I would use a Special Warranty Deed as this ONLY covers the time period YOU owned the home. My opinion, Im not a lawyer, just a regular Jane on a message board…ya da ya da.

8

If you are the buyer you want the seller to give you a general warranty deed

If you are selling the property you took subject to, use a special warranty deed if you did not purchase title insurance. If you did purchase title insurance, than a give the buyer a general warranty deed if buyer insists on it.