Why Record real estate documents?
To protect yourself as a Real Estate Investor, it is ideal to record your contract positions at your County Recorder’s office. When you have a property tied-up with a Contract to Purchase or an Option to Purchase, you may think that you’re in good shape. You go on to start working towards your exit-strategy, whether that is to wholesale, rehab, etc.
But not so fast.
A slick, slimy, and sly investor may try to negotiate with the seller behind your back and cut you out of the deal! Perhaps this is your wholesale buyer, your contractor, or anyone else who is unethical.
When you record your position at the County Recorder’s office, you are putting the public on notice of your interest in the property. This act puts a cloud on the title and the seller would not be able to deliver a clear title to anyone else without dealing with you.
While recording your contracts (memorandums and affidavits) is a good idea, spending time driving to the County Recorder’s office during their slim office hours is not.
Be like a Title Company and submit documents electronically, you’re a business too!
Using the eCourier service of eRecording Partners will allow you to submit your documents to the County Recorder’s office from your home office laptop while you sip hot coco in your drawers by the fireplace (well at least that’s how I roll). All you need is a scanner and a computer; well you don’t even need a scanner if you are a paperless operation.
There are no set-up or subscription fees associated with eCourier; there is only a $4 per document charge. The online interface allows you to view the status of documents from submission to recording. Check out the demo of their software for a complete look. At only $4 per document, this service is a no-brainer for those looking to run their business with greater efficiency. That should include you!
The eCourier service is currently available in the following counties:
|District Of Columbia||Washington|
|Missouri||City of St. Louis|