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First thing I want to say is the search query should be "what is a quit claim deed"? NOT " what is a quick claim deed"? There, we got through that part. Ever since I mentioned that I market to Quit Claim Deeds, people have been asking me to do a video to explain the reasoning behind this. I finally sat down with my kitten Zoey and explained why quitclaim deeds are a HOT and UNTAPPED mailing list.
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Now, please remember that if you want to market to quit claim deeds in your real estate marketing, they're not available as public records in all areas. Additionally, you can't search for them on most county tax record websites. You'll need to make a phone call and ask the county records' office how the quit claim deeds are recorded (transaction amount, what they're called, etc.) This info will make for an easier time trying to retrieve this list.
Quitclaim deed: Used when a property transfers ownership without being sold. No money is involved in the transaction, no title search is done to verify ownership, and no title insurance is issued. Source: Realtor.com.
I think that's why in real estate, marketing to quit claim deeds is so awesome. It's not a list that you can really ask for by name. You have to do a little digging. So good luck!
Do you want to market to quit claim deeds?
A quit claim deed is a legal instrument used to convey whole or partial interest in real estate.
Marketing to quit claim deeds can be one of your most successful real estate marketing campaigns. While obtaining the information may not be easy, it's what makes it a highly desirable tool. Most investors want the list that's easy to get. Those aren't always the wisest choice since it creates high competition.
When you listen to the sellers and you have to really put your ears on and listen to what they're saying, quitclaim deeds keep coming up. Every month on our county there's between 100 and 200 quitclaim deeds that are recorded. This information can be extracted and compiled into a mailing list.
Why would you choose quitclaim deeds as a marketing campaign? I'll give you some examples.
One lady I worked with was a private investor, and she had a private loan out on a property. The buyer defaulted on the loan, and instead of foreclosing on the property, the borrower quitclaimed the property back to her. This scenario is something that isn't going to be found on any list whatsoever.
Another case was two heirs who were left with the property upon the passing of their mother, and they decided to rent that house out for many, many years. They were partners. One of the siblings moved out of the state and told the other "I can't help you manage this property anymore. I'm just going to give you my half. Do whatever you want with it. " She used a quit claim deed to convey title to her brother.
A lot of times, older people will quitclaim the property to their children before they die so that it doesn't have to go through probate. Additionally, people may sign the deed over so that Medicaid doesn't take the property. For so many of the different reasons to use quitclaim deeds, you can't buy a list for these things. They are unique situations.
Search in your public records/tax roll websites for transactions that are zero to $100. That is the monetary conveyance depending on your county. In Duval County, it's $100. That's what the purchase price will show up as a quitclaim deed. Not all counties provide quitclaim data as public records. Check with list brokers to see if they have this information.
Awesome article,,, Thanks for sharing
SOUNDS GOOD.
Love it! Thinking outside the box is critical in this business. Thanks for sharing!
Great idea outside of the box thinking in what is going on behind closed doors. I happen to be lucky in that I can search one of my counties by deed type transactions including quit claim and by date ranges. Thanks for the idea!
Always be thinking outside the box! Move int he opposite direction of the herd.
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Interesting! So should we do a warranty deed to move a property from an LLC or from one LLC to another when we both entities?
On another note, I know some investors buy cheap properties with quit claims. What are the risks to them the property is worth maybe $15k?
My mother pass away 5 years ago her name is still on the deed how can I take her name off an put my name on it how much will it cost
This requires a probate