I am looking into having someone quit claim a property to me that has liens on it. Can those liens have a negative impact on my credit?

You should never accept a quitclaim deed, especially in NY, since you will be taking title subject any liens that have attached to it. In other words, the private mortgage may not be the only lien against the property-there could be unpaid property tax liens, water liens, mechanics liens, etc..  Your best bet is to run a title search through a reputable NY title company, then try to negotiate all of the liens down with each lienor prior to closing. Once you are 100% sure that all liens will be satisfied (or in the case of the private mortgage, assigned), you can proceed to closing and accept a bargain and sale deed, which will give you free and clear title (subject to any mortgages that you will assume).  I strongly suggest that you do not move forward with this transaction without the assistance of an attorney. These types of closings can get very tricky, and if you don't cover all of your bases you may end up with a house that you could lose to foreclosure unless you pay off all of the liens; in which event your personal credit may in fact be negatively impacted.  Again, you should never purchase any real property without conducting a title search, performing a home inspection (with a licensed engineer), and consulting with Counsel. Otherwise you may end up throwing all the money that you think you are saving down the tube.  Jennifer Polovetsky, Esq. Law Offices of Jennifer Polovetsky, Esq.,PLLC                                                                                                 Lake Success, NY (Practice Areas-Residential and Commercial Property)