After you have a signed contract with a seller, have this contract signed and file it with the local recording office (the office where the documents regarding real estate are recorded). This simple contract states who the buyers and sellers are, when they came to the agreement, and when they are planning on closing. It also gives contact information on the person holding the contract and property information. Exhibit "A" could be the MLS sheet or "Property Information" sheet from "Analyzing Property Forms" section and you can simply enter in an explanation of the property.

This document will insure that the seller will not be able to assign the deed to another buyer even though the seller already has a signed contract with you! So, protect your contact by filing it!!

Note of caution: This contract varies from state to state, county to county, city to city....it is best to hire an attorney to do this for you.

Click here to download Affidavit And Memorandum Of Agreement Concerning Real Estate!