Legal Question in Real Estate Law in Ohio

Payment of Seller Carry Back

When I sold my condo, the buyer had trouble getting financing because he couldn't meet the minimum down payment. We wound up increasing the condo value $1600, payable to me later (I never actually loaned him money, this was just an increase in purchase price financed by me). Since that $1600 wasn�t through his mortgage company, it appeared to them as if they were financing a lower percentage of the home value, so his loan was approved. The buyer now wants to refinance, and asked me to sign a paper saying the $1600 has been received by me and the agreement has been fulfilled, even though I have not gotten any money. Apparently, he was of the understanding that this was only ''paper money'' never to be repaid. Because I received a promissory note, I thought otherwise.

Is he right? Should I sign the paper and release my lien on the property? Or should I require the payment and perhaps let the courts decide?

Thanks for your advice.

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