Selling your home- what type of deed are you giving?

General Warranty Deed vs. Special Warranty Deed.  Have you considered discussing with your listing agent the difference between these two different types of deeds?  If you being asked to give a general warranty deed in lieu of a special warranty deed, ask your broker the reasons why you should be warranting title for periods that you did not own the property.  From a practical perspective, why would you want to be responsible for title matters that preceded your ownership?  The issue is compounded if you did not receive a general warranty deed when you purchased the property, but received a special warranty deed.  Many developers understand the difference and only provide a special warranty deed.  Ask about a special warranty deed before signing the contract, not after, and consider the differences.  There would be reasons to consider both depending on the market and how you took title to the property.  

Post a Comment