Hi my name is Sandra and I signed a Quick Claim Deed one year ago but now she can't get the mortgage in her name and the bank is calling me for payments.She's always late on her payments and is really messing up my credit also she won't move out of the house since her name is on the title from the deed we signed.She still owes me money from the sell. What can I do? Can the deed be reversed for non payment? Also the house is in Georgia ( snellville)

Thank you guys!! ;)
Yeah I know I messed up big time but I listened to my hubby parents and since it was the uncle and his girlfriend I thought... :( wrong I guess but its OK because they know what they owe me and even if they won't give it to me, I will get it another way and like I told them what goes around comes around and when it comes around its not going to be nice lol and I believe in GOD he's going to be with me until the end so it's fine but thank you guys anyway you have been great

God bless you... Sandra

We charged her $10.000.00 because of what we have done to the house but yes she had to get her own mortgage.
You can check out the house at www. Damascushomes.com and it's the Livingston style, I'm going to GA. Next week to find me a Lawyer and to see the house :) I'ma get it back hee hee lol

We need to know more about the terms of the transfer. Did you sign a contract for sale? Was there a mortgage on the property? If so, in whose name?

Yes, I would assume you wrote up a loan paper that says they owed you the money. Now this is the problem, you screwed up big time, you never, ever actually sign the deed over to someone until after you have your money at closing, If you sign the deed over without any type of loan paper or loan agreementn for her to pay you,? You just gave your house away for free.

Hi Scott The mortgage is in my name.
When we signed the papers about the Quick claim the lady who wanted to buy the house from us wasn't there she sand her sister because she lives in Georgia and we were in Florida but the property is in GA. And that was my first property and really didn't know what I was doing. We signed a contract saying that I'm selling the house to her for $10.000.00 all she had to do is get her own mortgage which is still in my name after 1 yr. I found out that her credit is too messed up to get a mortgage and the only thing I signed was the money contract I did not sign the deed.

What is the difference between a quick claim deed and a quit claim deed?
Is that the kind of contract you was asking about? ( the money contract) because that's all we had was a contract of what she has to give me and the deed.
Which she hasn't even paid me a dollar yet and she was supposed to give me $10.000.00
(I don't know if that would help you answer my questions)?

First, please don't start a new thread with a follow-up. Use the Answer This question, quick reply or quote user options. I've merged the two threads for you.

Ok first there is no such thing as a QUICK Claim deed. The correct term is QUIT claim, but some people hear it as quick mistakenly.

Second, the terms of this contract are important. If the terms state that the buyer was to obtain her own finaincing with x period and didn't, then the property reverts back to you and you keep what she paid. In a situation like this you don't deed over the property until the terms of the contract are satisified.

However, if you actually signed the deed over to her without getting the money due you, then you made a big mistake. If she registered that deed, then you are no longer the owner of the property. You can regain ownership, but you would probably need to sue her for breach of contract. I striongly suggest getting a real estate attorney to unravel this mess. Had you consulted an attorney (or even us) before you signed anything, you probably would have avoided this mess.

Where in GA are you selling a house for 10,000, always looking to buy some property

Quote:

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Originally Posted by Fr_Chuck

Where in GA are you selling a house for 10,000, always looking to buy some property

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I think the $10K was a down payment and the buyer was supposed to get their own financing to pay off the mortgage.

I have combined the posts, please do not start a new thread to add more info,

Was not sure, I have bought 4 homes in GA and TN in the past for less than 10,000 got one 2 bedrom for about 4,000 a few years ago.
With all of the foreclosures, there are homes in the Atlanta area selling for about 10 cents on the dollar right now,