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Updated over 4 years ago on . Most recent reply
Should you get a seller to sign a memorandum?
Would anyone recommend asking sellers to sign a memorandum if you feel like they may potentially get cold feet on selling a property to you? I’m also curious on how you would file it at the courthouse if the seller backs out of the deal?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
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The “memorandum of purchase contract” you heard about is something that You draft sign on your own, then record. Be aware that you have to cancel/release it, and record it, if you back out. The seller doesn’t sign this.