Qualified Buyer
A buyer who has satisfied a lender that he or she is financially able to qualify for a loan. Qualifying the buyer is one of the primary steps taken by the lender as part of the loan process.

Quitclaim Deed
A deed which conveys only what present interest a person may have in a particular property without making any representations or warranties of title. Such a deed is useful in clearing up doubtful claims such as possible dower rights or disputed liens. A person giving a quitclaim deed releases and waives all present rights, and if the grantor has good and merchantable title, this is what is conveyed. If the grantor actually has no interest in the property, no interest is conveyed. However, if the grantor later acquires good title to the property previously conveyed by a quitclaim deed, the grantor keeps it; it is not automatically passed on to the grantee.