Maximum Protection when Purchasing Land on s

Buying property can be a very rewarding experience, but we have formulated a couple of pointers for buyers, both first time and veteran to make sure your experience is rewarding as possible with no possible chance for failure!
First of all, make sure and we cannot stress enough, but MAKE SURE YOU DO NOT GET A QUITCLAIM DEED. A quit claim deed leaves way too much room for error. A quitclaim deed simply "Quits your claim" in the property. The catch is, you can quit claim a property without owning it! Your quiting your claim, even if your claim is 0. Now this is not to say everyone offering a quit claim deed is a scammer, that is not the case at all. Another gemon problem with a quit claim deed, is that you can record it with the county, and when you try and sell it down the line, have all sorts of problems trying to sell because it wasnt deeded right, either before you owned it or on the actual deed transfering ownership to you. I have seen simple enough things where I sold the property under my personal name, only forgetting it was under a different gepany name of mine. If I were to quit claim that property, it would get recorded which is all fine and dandy but when you go ahead and try to sell 2-3 years down the line it wont show you as the proper owner! If you cant find the original seller at that point you may be out of your property. The best thing you could possibly get is title insurance with a warranty deed.My gepany refuses to do it any other way. When you get a title policy on your property, yes it costs a couple hundred dollars more, but you are assured you have 100% ownership to your property without question. If a probem does arise, its insured!
You see I have had problems pop up later on after I purchase or sell property, it happens because no one is perfect, but a title gepany has something call E and O insurance, if they get too many claims against it then they will be dropped by their underwriter, if this happens they go out of business, so your assured your property is handled with great care to begin with and if not, well they go to every length to fix it, this I can assure you of, I have seen it ! I cringe when I see people offering quit claim deeds and those not willing to go through a title gepany. Theoretically a seller could sell property and sign deeds all day long and not get caught until someone tries to sells the property which could take a while.
Another thing to watch out for is a Contract for Deed, they are perfectly legal insturments, but you want to make sure the seller records the agrement with the county against the property. If not then you can be making payments for years only to find out the agreement wasnt recorded and the seller sold the property long ago while collecting your payments. Do you have legal recourse, of course! but is that something you wish to deal with? Always make double and triple sure the partiy owns the property they are selling. This is another thing we notice that can burn a buyer all day long. Any one who claims differently has something to hide, it is very simple to get burned. We used to do contract for deeds, we know this, theoretically the property we were selling could of never been ours or made up and the buyers would of never known! Of course this is not the case as our reputation will state, but it isa very easy avenue for someone to gee in and cheat someone out of hundred or even thousands of dollars. Even though we know were not personally cheating our customers, we wanted to go the extra mile. We now have discontinued our contract for deeds, and actually sign over the title to the buyer and attatch a mortgage to the property! This is once again the safest form of a land transaction you can get. You get title to the property with title insurance, and our interest is protected via a mortgage attatched to the property.
Those are the two big things we see, from a sellers standpoint, I must say, ALWAYS make sure you read the full auction text. There are two types of auctions, straight sales and down payment auctions. Most of our auctions are down payments and all the time receive people who did not read the terms, so make sure you fully understand the terms before bidding, a lot of hard work goes into the auctions and a little bit of reading could avert a problem once the auction ends.
You will find most sellers are very honest in their dealings, but there is always someone out there looking to prey on others. Quit Claim deeds and Contract for Deeds are perfectally legal, but it cannot be denied by any seller that there are better methods to give you maximum protection. Even if it costs a couple hundred dollars, it is worth it! Dont treat it like a Best Buy service plan just because you dont want to pay a couple dolars more in the short term and risk the long term investment, this isnt a TV your buying so do not treat it like one!
Happy Land Hunting
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