We prefer to use Special Warranty Deeds on transactions that we close in house. To help keep our prices at 50 – 70% below retail value, we have not paid extra to use a title company when we bought it,nor purchased title insurance. Therefore, although we have examined the title chain, we do not feel we can guarantee the title history going back to the beginning of time, which is what a General Warranty Deed would require.
However, under a Special Warranty Deed, we ARE providing the following:
- We (and any of our investors) are the sole legal owners of the property and have the legal right to transfer the property.
- There are no outstanding claims against the property by any creditor or anyone else that were instituted during our ownership period.
- We guarantee we have clear title only during our period of ownership.If there is a problem with title outside of that period, the buyer is not entitled to compensation from us (other than what’s in our Guarantees).
If you would like to receive a General Warranty Deed, you are free to use a title company or attorney to handle the buying transaction and purchase a title insurance policy. Then we are happy to provide this to you.