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Updated over 1 year ago on . Most recent reply

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17
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Quincy Amekuedi
10
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17
Posts

Filing a Memorandum of Contract/Agreement (Seller Moving SLOW)

Quincy Amekuedi
Posted

Anyone ever had a seller begin dragging their feet, well beyond the target close date? I (end buyer, not a wholesaler) have a duplex that I entered into contract on in May and the seller and agent are becoming non-responsive. I recently learned of a process to file a memorandum of contract/agreement, but have never filed one before. I plan to reach out to a real-estate attorney too since my agent's only thought was to sign a mutual release and try to get my EMD returned. The numbers on this property, both current cash flow and future appreciation meet my criteria so I'd like to continue pursuing it. Anyone ever done this? How did it work out for you? Is there a better process that you have seen to protect yourself and possibly prevent the seller from going with another buyer?

  • Quincy Amekuedi
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