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no payday for anyone on this one
a memo to purchase is rarely enough to cloud title – most title companies just over look it
I had a home under an option contract for 30 days and i have a purchase contract signed with my buyer. i was wholesaling this property for a good profit. my buyer recorded a memo of purchase at the courthouse. we were ready to close this week! Then the big monkey wrench was thrown in the deal! Get a call from my seller that the house caught fire last night and a suspected arson situation. 30k worth of damage. I have no money in the deal but i wanted to get paid. is there anything i can do to work this out or is everything just finished at this point? please advise. also, what happens if someone records a memo to purchase and the deal falls through, how does that get cleared from the title.
thanks
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