Know what is signed. #shortvideo #shorts #short #shortsvideo #growth #money #tips

16 Dec 2024 · 1 min

Watch on YouTube

1:05

Steve D Valentine warns viewers about the risks of a "Memorandum of Real Estate" recorded against a property: it can tie up title and function like a purchase contract recorded against the property, enabling holders to control title and require payment to remove it. He cites a specific case: a contract signed by "Corey" that purportedly allows the buyer to record the memorandum without seller signature, includes a 90-day inspection period, no earnest money, and a looming foreclosure date of August 22nd.

Questions this video answers

90 day inspection period.

No — there is no earnest money.

August 22nd.

The contract states the buyer has the right to record the memorandum without the seller's signature.

Chapters

Some memorandum, right? You guys all familiar with the Memorandum of Real Estate, Right? So it's a notarized document that freaking ties up title. It's recorded against the property, and it's basically the purchase contract of the property. So I started to do some recording on it yesterday, but I'll finish that up. But here's the deal. They recorded on it. These are guys that are just holding sellers hostage because once they do that, they control title. And the only way to get it off is to pay them out. So here's what happens is I'm looking at all the different things. Well, in the contract that Corey signed, it says in one of the sections buried in it, I have the right to record this memorandum that does not have to be signed by the seller. So here's the deal is he goes through and he does sign this. The guy records it. So there's a memorandum of Real Estate signed by the buyer and notarized, which now can be recorded with the contracts. Contract says it. It's a purchase contract. Here's all the things Corey signed. 90 day inspection period. They can cancel for whatever reason. There's no earnest money and the guy's gonna be foreclosed on August 22nd. Who is this company? It's not a company, it's some freaking douchebag.