Quit Claim Deed after Sherrif’s sale?

Question by k t: Quit Claim Deed after Sherrif’s sale?
Hello,

My townhouse in Minnesota is foreclosed, the sheriff’s sale was 9/1/09. On Friday an attorney contacted me saying that someone wanted to buy the property and was offering me $ 3,000 for me to move out before the 6 month redemption so they could fix it up and get renters in.

I met with the person who wants to buy the property this a.m. and he toured the house, and wanted to proceed. We went to a bank to get some forms notarized, and I just couldn’t bring myself to sign the deed.

I have been contacted by other services in the past who wanted to “help” with my foreclosure, and the media has certainly led me to believe that a lot of these services are some kind of scam. I have never heard of anyone getting money for moving out before the redemption period, and am having trouble finding any kind of information on it.

I’m wondering if this is legit, and would like to hear from anyone that has done this. I don’t want it to come back and bite me a few years down the road.

Thank you,

Katie in MN

Best answer:

Answer by Christopher H
It is legal and probably the best offer you will get. This effectively extinguishes your claim (quit the claim) so he can move ahead and not be worried you might try and redeem the house after the sale through your statutory right of redemption.

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