Hi eveyone I am a beg birdog what options can I use to stop buyers from going behind my back and stealing my deal please help
contact a real estate attorney and ask them to draw up a contract for you and your buyer that is a agreement stating that if they purchase a home you located for them that you will be compensated for it… or you can search the net for it…it does exist…i wish you were here in michigan my birddogs suck… :biggrin lol
another option is that if you know 100% that your buyers will want the deal no matter what you can always get the house under contract yourself then assign the contract over to them for a fee…(wholesaling my friend)
Welcome…
I think two ways…
-
Put it under contract before you show it
-
Baseball bat…
Not certain the agreement without a license would hold up…
Have fun with the batting average…
Michael
dpearce00
Learn to be a wholesaler rather than a bird-dog. But in the meantime just learn to use a straight option for a buck or two. You can put in the option that the seller may cancel the option for $500 bucks or whatever amount your bird-dog fee is.
After you got the option you e-mail your investor the details, mention your option, now you have proof the investor was aware of said option and can enforce your position legally against the seller and the investor. Of course I’m with Michael. My brother and I would have just had the guy kneecapped, don’t want those kind of investors in my territory.
Stay in control of the deal by putting it under contract yourself and if you really smell something foul going on, have a real estate attorney record an “Affadavit and Memorandum Concering Real Estate Property” at the recorder’s office that simply says that the property is under contract and MAY be bought by YOU (Option Agreement language). This would be uncovered when the title search is performed. This document would stop the deal cold in it’s tracks and the title company will contact YOU for more information at whic time you would submitt the agreement you have with seller and thereby knock the unscupolous buyer out of the park. You should really consider getting out of “bird-dogging” and learn to do these deals yourself like I do. It’s reall not difficult nor is it rocket science
Bay area Brian is right, get an option on the property to protect your interest. However, it would be a hard sell if you put a $500 cancellation fee in the option.
If you’re only putting down $1,2,…10 as an option consideration then explain to the seller that if they cancel the agreement they owe you $500, 99.999% of the time they will not sign it and just get them ticked off at you.
Using an option is a great way to control the deal so buyers can’t go around you. Read Donald Trump’s 1st book “The Art of The Deal” on how used an option agreement to control Jacob Javits Convention Center in NYC.
I like the baseball option personally. Nothing like good ol violence and intimidation to get a buyer to think twice about trying to screw over a birddog. :cool
You will need to surround that house with 10-20 pitbulls every day. Make sure that nobody else can get near the house. Only then will you know that the house is safe. lol. J/K
You never have to worry about this. Even if someone gets in there and steals your deal, there are plenty of deals out there so move on to the next one.
If you did what you were suppose to do, the deal can’t be stolen from you.
[quote author=MichaelQuarles link=topic=46498.msg226704#msg226704 date=1271816567]
Welcome…
I think two ways…
-
Put it under contract before you show it
-
Baseball bat…
Not certain the agreement without a license would hold up…
Have fun with the batting average…
Michael
[/quote
I like both Michaels options… Because if you do #1 you’ll make a hell of alot more money (you’ll be wholesaling which is basically bird dogging with balls)
#2 Just sounds fun…
On another note, if you are hanging out here, why not use all of this information that you have at your finger tips and wholesale the home yourself. Instead of being paid per lead, how about get paid $10,000 lump sum.
I you hang out around us long enough, you will get there, trust me.