Tips on Buying Land — Tip #2 Title Problems

Mark J. Podolsky explains three deed types: quitclaim deeds offer no warranty, special warranty deeds cover only the seller's ownership, and warranty deeds guarantee the full chain. Always get title insurance before buying land.
Questions this video answers
March 28, 2012.
800-4283-7608-0428-3760.
11 years.
Chapters
Hey, it's Mark the Land Geek again. Thanks for taking your time to learn more about how to safely buy land online and avoid these fatal mistakes I see the average real estate investor making every day. So without further ado, let's get on to tip number two. The other fatal mistakes I see are dealing with titles. That is, how is the seller conveying title to you, the buyer? Are they using a warranty deed, a special warranty deed, or a quitclaim deed? These are very, very different things. These three things. Let's talk about the worst of the deeds. A quitclaim deed seller, is actually providing or warranting you. Nada, zilch, nothing. There's liens on the property, encumbrances, problems with the title. Your problem, not theirs. Don't ever take a quitclaim deed, ever. A special warranty deed's a little better. A special warranty deed warrants that during the seller's ownership of that property, they're warranting you, the buyer, that they haven't put any cloud on the title. No liens or encumbrances. It's good. It's not great. The best deed you can get is a warranty deed. A warranty deed states that your title is free and clear from the entire chain of title from the very first buyer up to you, that there have been no liens or encumbrances on the title of that property. And to be really safe, get title insurance. So there you have it. Always insist on that warranty deed. And if you want to learn more about actually making a living buying and selling land online, creating an incredible passive income and through land notes, or just buying land, flipping it and making extra money, going to tax sale auctions. Because you know, they say in real estate you make your money on the buy, not on the sell. And I'll teach you all the tricks and all the places to go so that you're never buying a retail price for a piece of property. And then I'll teach you exactly how to market that property and make a 300% return and make a beautiful living doing this. I've been doing this for 11 years. Learn more about my Land Geek Elite coaching program by calling me. 800-4283-7608-0428-3760. Take 15 minutes of your time. Find out if this program is going to be right for you. And I guarantee you that you won't feel that you wasted 15 minutes of your time by talking to me about this program. At the very least, you'll learn something more about land. And at the most, you might start making an incredible living doing this for yourself. Thanks a lot.
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