Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

73
Posts
9
Votes
Jose Falconett
  • Real Estate Agent
  • Colorado Springs
9
Votes |
73
Posts

Can I leave "sale amount" on memorandum of P&S blank?

Jose Falconett
  • Real Estate Agent
  • Colorado Springs
Posted

Hey guys so legal question, feel free to answer if you might have an idea but if you're an attorney that'd be all the better! I am a wholesaler.

So if you didn't know recording a memorandum of purchase of sale agreement is a way to secure the real estate deal, "clouding the title" so that the seller can't sell to someone else after selling to you. 

Now upon reading these sample agreement's it ask's you to fill in the "Sale amount" and to attach exhibit A...(the purchase contract itself). 

The problem is that I don't want to share the sale amount in the memo that goes into public records because I wan't to prevent my profit from being disclosed to the end buyer to prevent them from having to much bargaining power of course. 

So would I be able to leave the memo sale amount blank or white out the sale amount on the "exhibit A purchase agreement"? Would this invalidate the document at all? Any recommendations would be great!

Loading replies...