memorandum of understanding contract for real estate or notice of interest insurance. Our mobile notary public come or travel to you to notarized agreement at home, business or office location around you give us a call at (863) 617-7788 or visit https://boracina.com/florida/lakeland-mobile-notary-public/ to see location we serve in Polk county, Florida area.
What’s going on? Today we are here to talk about deal insurance. How can we protect ourselves from sellers that try to go around us, or after you get a contract signed they want to sell it to another buyer? How do we prevent sellers from backing out of signed contracts? That’s what today’s Flip Tip is about.
All right. You know you got car insurance just in case you crash. You got house insurance if your house burns down. What about deal insurance? What about when your seller decides hey, I know I signed your contract, but I changed my mind and I won’t be selling you this house. We’re going to show you today how to get around that.
And we’re actually on the way to meet with the seller and we’ve got a mobile notary there that will be notarizing the deal insurance document. It’s called the Memorandum of Contract or the Affidavit of Understanding. Either one you want to use depending on your courthouse. So we’re going to meet with the seller at the house. We have a notary meeting us there, a mobile notary, so your seller doesn’t even have to leave the house to get these documents signed.
All right, so soon you’re going to see us pull up meeting the notary. I’ll show you how we found him, and get a memorandum of contract signed to prevent your sellers from backing out of signed contracts. Deal insurance. All right. See you in a minute.
Two of the deal insurance documents showing you how to prevent your sellers from backing out of signed contracts. All right. So we’ve got brother Lewis here, he’s going to be our mobile notary. We hired him, 123notary.com so you can go there and hire a notary anywhere in the country. Soon they’re going to have the notaries on your phone, but we’re not using that yet. So, just Google mobile notary and you can find any notary in your city.
Brother Lewis agreed to meet us here for a flat fee to get the documents notarized and we’re getting ready to go up there and meet our seller to get the seller’s signature. Let’s do it.
We’ll walk a little bit then pause. [inaudible 00:02:15]
All right, so you get me.
All right guys so we’re here at the seller’s property.
The first thing is-
We’re here with Mr. Hill and the mobile notary, we’re going to get the memorandum of contract signed … you got me [inaudible 00:02:32]?
Mm-hmm (affirmative)
The notary will look at the seller’s driver’s license and then he’ll sign the document here, and then we’ll get up out of the seller’s hair. That’s as easy as one, two, three.
So after he signs, he’ll sign for the notary as well.
You can go up, [inaudible 00:03:12]. Yeah, that’s good.
Oh, okay. Okay.
See the brother brings out his stamp, the notary will have his stamps that’s what makes the document official. [inaudible 00:03:26]
Rolling?
Yeah.
Okay guys so final step to the deal insurance, get your memorandum notarized, got the notary here, the notary is right there. [crosstalk 00:03:39] They’re over there having a good time talking about football. So that’s how you finalize and make sure that your deal insurance is put into place and never having a seller back out of a deal again.
Yes.
All right guys, so that was our deal insurance, the memorandum. The final thing I want to tell you is what the next step is going to be for the memorandum. The final step is to record your memorandum or your affidavit down at the courthouse. If you want to learn how to do that, just put your email and you email me and I’ll walk you through that too. But you’re going to be recording your memorandum down at the courthouse against the seller’s name.
So if, for instance, if the seller wants to sell the property to somebody else, when the new buyer, they do a title search, they will see that your contract and your memorandum is already in place and it will alert the general public that a contract exists between you and the seller. So that’s what the deal insurance is for, just to alert to the public that the seller has already signed a contract.
how to use the memorandum of contract for deal insurance for real estate
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