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Updated over 2 years ago,
Memorandum of contract- How to settle with seller?
Hello everyone,
I'm in a sticky situation with a seller. I got a property under contract for $130,000 back in September 1. He started ghosting me and I decided to file a memorandum of contract with the county. I found out it was listed on the MLS and he has it under contract for a much higher price. He ultimately agreed to pay $10,000 if I let him close with the other party. How would you go about settling this? An attorney friend of mine told me that I have to draft a settlement agreement. He told me I'm better off settling this myself instead to go through an attorney because of the fees. What is the best way to solve this? He also recommended to file a lis pendens.