Nathan Payne explains why your real estate contract needs explicit language allowing you to file an affidavit of memorandum. This notice of interest protects your right to purchase and must be notarized and recorded with the county. Get it in writing before you negotiate.
So that is how I would handle the situation if it happened again. And what do you need in place? Well, of course you need a contract that's signed, and this contract needs to have the verbiage and the wording that allows you to file an affidavit of memorandum, notice of interest. So you have the interest to buy the property, you can exercise your right to do that. So you need a contract, you need to be able to file notice of interest, affidavit of memorandum— they're interchangeable, they're the same thing— you need to be able to file that, get it notarized, and file with the county wherever you're at. You need that, and you need to be able to have that negotiation conversation with them and just talked to them open and honest.
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