PLEASE HELP! Recording Affidavit of Memorandum in LA County

Buying & Selling Real Estate
5yFollow

PLEASE HELP! Recording Affidavit of Memorandum in LA County

Danny Leyva
Member since 2021 · 14 posts · 2 votes

I am a new wholesaler in the Los Angeles, CA area and i need to know what is the best/fastest way to record an Affidavit of Memorandum with the county assessor/recorder to prevent a seller from closing a deal behind my back. I saw a youtube video of a woman in Atlanta doing it at her county recorder and it was as easy as walking up to a desk and paying $14. unfortunately for me my assessor/recorder  is currently closed to the public due to covid. i called them and they said that the only way currently is to send it in by mail and that could take 6-8 weeks to actually be recorded on the property. THIS IS WAY TOO LONG. this document is critical to a wholesale investor because it is what protects us from any dishonest sellers/buyers cutting us out of a deal. i do not want to know what it feels like to lose money on a deal just because i couldnt get this figured out. 

THANK YOU SO MUCH FOR YOUR HELP 

0Reply
32 views

6 Replies

Jump to latestLatest
  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    5y

    Yes, recordings are way behind these days. I would serve the seller (and send notice to the would-be buyer and title company handling the transfer, if known) a copy of what you're intending to file in accordance with the Notices section of your contract.

    Gimer Law516 Reviews
    WebsiteView Page
    0Reply
  • Danny Leyva
    OP
    Member since 2021 · 14 posts · 2 votes
    5y
    Originally posted by @Tom Gimer:

    Yes, recordings are way behind these days. I would serve the seller (and send notice to the would-be buyer and title company handling the transfer, if known) a copy of what you're intending to file in accordance with the Notices section of your contract.

     would this stop the seller from selling to someone else? what will it actually do to help me in the case that they completely disregard a purchase agreement they already signed with me?

    could i get a title or escrow company to file the Affidavit for me? i saw a youtube video of a guy who said in some cases title companies can do this for you but i have found no clear answers on that yet, i will call a few places tomorrow morning and ask

    thanks for the feedback!

    0Reply
  • Danny Leyva
    OP
    Member since 2021 · 14 posts · 2 votes
    5y

    ive been thinking about asking this question in a different way and i guess this is a better way to ask it: "What is the fastest way to cloud a property's title as a person with a purchase agreement to buy that property" 

    thank you!

    0Reply
  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    5y

    @Danny Leyva You can't cloud title without recording in public records... and with COVID delays, that is a problem. Notifying in writing the relevant participants in a sale intending to squeeze you out (seller, would-be buyer, any title company considering handling that transfer) as what you intend to file/record and do is the best way to prevent that sale.

    No title company who receives notice of competing contracts will close with either buyer until the situation is "resolved" ... by resolved I mean the attorney involved will consider all the docs and facts and may decide that closing with either is not worth the risk.

    It depends upon where you and property are but just as an fyi title companies around here (East coast) don't represent clients or file things for them. That would be for you and/or your attorney.

    Gimer Law516 Reviews
    WebsiteView Page
    0Reply
  • Danny Leyva
    OP
    Member since 2021 · 14 posts · 2 votes
    5y
    Originally posted by @Tom Gimer:

    @Danny Leyva You can't cloud title without recording in public records... and with COVID delays, that is a problem. Notifying in writing the relevant participants in a sale intending to squeeze you out (seller, would-be buyer, any title company considering handling that transfer) as what you intend to file/record and do is the best way to prevent that sale.

    No title company who receives notice of competing contracts will close with either buyer until the situation is "resolved" ... by resolved I mean the attorney involved will consider all the docs and facts and may decide that closing with either is not worth the risk.

    It depends upon where you and property are but just as an fyi title companies around here (East coast) don't represent clients or file things for them. That would be for you and/or your attorney.

     this is really good info i really appreciate it. I know you're in the east coast so it may work differently but do you know if its possible to file a memorandum with a title company?

    0Reply
  • Account Closed
    Member since 2020 · 984 posts · 1k+ votes
    5y

    I get documents recorded with the Los Angeles Country recorder every few weeks and I think the documents are recorded the same day the recorder receives them in the mail and then it takes about a week until we get a copy returned in the mail. It doesn't seem right that a county recorder worker has a legal option to records documents solely at their convenience.

    Mailing it Next Day by certified mail is better than doing nothing. A few years ago, I filed a Trust Deed on a property and it was recorder at about 1:30 pm. A reverse mortgage company did a Quit Claim on the property and it was recorded at about 11:30 am on the same day. Needless to say, the mortgage company beat me by 2 hours, the house went into foreclosure and I lost out on about $15,000.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free