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  1. #1
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    May 2009
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    Default What is the Typical Cost for a Warranty Deed

    My question involves real estate located in the State of: CA


    I will be filing a quit claim deed, but noticed some posts about warrranty deeds. What is the typical cost of a warranty deed? I read a post from 2007 that mentioned $2,000. I assume this is because of the title search costs and the legal fees.

    Maybe that is why the quit claim deed is so popular in California.

  2. #2
    Join Date
    Sep 2005
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    Default Re: What is the Typical Cost for a Warranty Deed

    You're talking about closing costs, then, not the mere preparation of a deed? If you want somebody simply to prepare a deed, call around for prices. If you want to save on total closing costs, shop around between lenders and title insurance companies.

  3. #3
    Join Date
    Mar 2008
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    Default Re: What is the Typical Cost for a Warranty Deed

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    My question involves real estate located in the State of: CA


    I will be filing a quit claim deed, but noticed some posts about warrranty deeds. What is the typical cost of a warranty deed? I read a post from 2007 that mentioned $2,000. I assume this is because of the title search costs and the legal fees.

    Maybe that is why the quit claim deed is so popular in California.
    I have checked in my area, and to have lawyers prepare a deed is $250 and up. Then there are additional filing fees, which is extra. Getting titile insurance is extra.

    In a quit claim deed, the grantor (person giving you the deed) only transfers his interest to you. He does not warrant that he has clear title, and it is possible there are title issues, and other claims, he may actually own nothing, so what you receive can be worthless.

    With a warranty deed, usually done after a title company gets to review things warrants that you have clear title, and then the title insurance company would insure you against any defects in title.

    Are you sure "quit claim deeds" is all they do in CA?? In NY, the title on all my deeds all say "Bargain and Sale deed with convenants against Grantors Act's", and is a warranty deed.

  4. #4
    Join Date
    Sep 2010
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    10,088

    Default Re: What is the Typical Cost for a Warranty Deed

    A quit claim makes no representation of any interest in the property, but conveys what interest exists to the grantee.
    A warranty deed represents that the grantor actually has the interest being conveyed and gives the grantee recourse against him if that is determined to be false.
    It has squat to do with title insurance (though Title Insurance to cover the owner is always a good idea). In fact, title insurance doesn't work at all like SChin describes.

    Warranty deeds are just different wording, no reason they should cost any more. The implications on the grantor is more, but that's not a legal cost.

  5. #5
    Join Date
    Mar 2008
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    1,995

    Default Re: What is the Typical Cost for a Warranty Deed

    I did not say the warranty deed is part and parcel of the title insurance, though I should have said it btter.

    The best analogy here is comparing buying a car "as is", versus buying one "in perfect operationg condition". If the OP know nothing about cars, then he should have the car checked out by a mechanic, the same as he would have a house title checked out. as it is clear he is no expert on the subject. Buying a car "in perfect condition" and having it checked out is obviously two different things, and I owned a car repair business and I ran across lots of people who bought cars said to be in perfect operating condition and fail to see why they should have a perfect car checked out. Apparently, they don't see a connection.

    What is NOT mentioned is the "covenants" pertaining to a warranty deed. Here in NY, I sought some legal opinion on what "covenants against grantor' acts" pertains to, and the opinions I receive is the grantor warranties he has done nothing himself to diminish the grantee having clear title, and beyond that, he knows nothing else. It's like someone selling you a car telling you "it's in good operating order", AS FAR AS I KNOW but he is no expert on cars, and beyond what he noticed, he can't tell you any more. But as far as the seller is concerned, it is perfect. So you should have the title checked out, same as you should have a car checked out.

    Otherwise, you got clear title AS FAR AS THE SELLER CAN TELL, and depending on the covenants, you might not be able to get after him if something is wrong. Of course, I have title insurance, so I don't have to rely on legal opinions on the covenants.

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