Jeff, Dodd Frank changed TILA, TILA changed ALTA, ALTA changes closings, therefore Dodd Frank changed double closings. 

Besides ALTA requirements you'll usually find state laws backing up ALTA requirements as well as the IRS Code and several acts dealing with money laundering, wiring funds, and DDAs (demand deposit accounts).

Liens are elementary, and liens not properly filed are exemptions from coverage under Schedule BII  of an ALTA standard policy. 

The extended coverage would require an ALTA survey and would report any unrecorded encumbrances, easements or liens.

An extended policy, also referred to as an ALTA, for American Land Title Association, policy, covers you against many more risks. 

Most charge a 10,000 minimum or 10% of the loan balance whichever is greater paid at closing.Lender site inspection, buyer building inspection, environmental phase one, ALTA level one survey, appraisal, etc. all in can be about another 10,000Lender legal fees for banks attorney to draft and negotiate the loan docs with the buyers attorney ( generally about 3,000 to 5,000).Transfer taxes and recording fees.

Your numbers don't thrill me, but might be ok for youTying up property is fine however, recording a Memorandum is not an effective strategy sufficient to cloud title in CA, at least as far as ALTA & CLTA insurance policies go.

The brakes were put on these transactions through ALTA (American Land Title Association) requirements.

Hi @Jason Peterson,Regarding  the $299,900 house on Alta Vista, don't give up on it yet. 

I was really interested in 5 points, tobin hill, alta vista, and woodlawn lake.