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[Music] hi this is victor moss here to talk to you about memorandums of contracts what are they well basically its a way to cloud the title on a property where the buyer signed a contract with a seller and now the seller doesnt want to go through with the deal because they got a better deal from another investor so as a way to get leverage on this seller whos a scoundrel you file a memorandum of contract we prepare it you give us all the information on when you did the sales contract your contact information we have a witness and youll sign it as well plus its docHubd we record the memorandum of contract using legal description and the address and the sellers name so if ever a title company was trying to close that transaction they would see that theres already another open contract and they wont close the deal so it gives you a lot of leverage one of the things you can do once you have this is you can negotiate with the seller to pay you off or to follow through on the trans