Quick Claim Deed In Atlanta, Ga
My cousin quick claimed his house to someone last year. The person has not paid the payment in 3 months. Is there a way for him to get the property back so he can quick claim it to me? he still has a mortgage on the house. This house is in the Atlanta, GA area.[ Edited by BDRAYT01 on Date 07/03/2005 ]
I assume that your cousin is holding a second mortgage on the house and that the person he quit claimed the house to is delinquent on the second note payments. If so, your cousin can begin foreclosure proceedings. If this person is the one making payments on the first loan there is a good chance that this is delinquent as well.
The amount of earnest money is going to be based on two things. One is whatever is customary in your area. The other is what the bank wants. Most of the time their attitude is their way or the highway. We usually have $500 or $1000, especially on low end properties in the Baltimore area. However, recently many of the REO listings have a 3% earnest money.
Sometimes the bank has an earnest money requirement.
Quote:
On 2005-07-04 14:07, edmeyer wrote:
Sometimes the bank has an earnest money requirement.
MLS says that the "offer is subject to seller management approval". It makes me believe they can set the tone.