Can Investors Steal Your Deal?

Hi All, I was wondering if you find nice deal and you give investors without signing contract can they " Inverstors " steal your deal? Does any one has assignable contract to protect my deals? Please help

Comments(14)

  • Aaliyah2nd July, 2006

    Thanks roboxking
    so what are you saying is sign purchase and sell agreement then sell your contract.

  • roboxking4th July, 2006

    Yes that is always your best bet. Control the deal.

  • InActive_Account5th July, 2006

    anyone can steal your deal until you have the deed. Always go for the deed.

  • roboxking5th July, 2006

    panicfilms -- he/she does not want to own the property and simply desires an equitable interest for assignment purposes.

  • roboxking5th July, 2006

    So you are saying that a deed somehow gives you better protection than a contract from a third party???

    An executory contract can be recorded with the clerks of court for optimal protection.

    A deed is no more than a legal instrument commonly used to transfer title and the bottom line is that anyone can steal anything at anytime for any reason by any means.

  • oroper5th July, 2006

    Very Good Example. LOL

  • roboxking5th July, 2006

    The question was protection from a third party and Not from the seller. The question was to assign a contract ---

    Recording the contract will cloud title and have the same effect that most ppl try to pull with a deed.

    Besides, even if you go record the deed another deed can be forged. The bottom line is that a theif is a theif.

  • charlotteinvestor6th July, 2006

    a theif may be a theif, but the first theif to record is the first theif that wins.[ Edited by charlotteinvestor on Date 07/06/2006 ]

  • roboxking6th July, 2006

    I never disagreed that a deed is the most ideal thing to do. Obviously it is. I was answering his/her question on assigning a contract. --

    Most ppl will not voluntarily sign a deed unless you give them Uhaul money+ but are often willing to sign a contract w/out a deposit.

    The forgery thing came up because a reputable investor will not "steal" a deal in the same way that an honest person will not commit fraud.

  • cjmazur17th November, 2007

    look into non-circumvent agreement as a means of protection.

    google non-circumvent non-disclosure

    I have a potential partner sign one before I disclose any sidnifican deal points.

    Can it be breach yes
    do I then have recourse? Yes.
    Can they play games w/ what entity is signing v. buying Yes.

    But it provides better protection than nothing.
    [ Edited by cjmazur on Date 11/21/2007 ]

  • cjmazur18th November, 2007

    Aaliyah,

    you can lock-up the property/deal by using an option (costs a little $$) or put it under contact which "costs" a refundable ernest money depost.

  • toobizee21st November, 2007

    record a memorandum of contract or record your option to buy the property - you will create a cloud on the title that will need a release to close - hence your protection

  • Aaliyah26th November, 2007

    Thank you all for your ideas and thoughts. I learned a new things.

  • cjmazur1st February, 2008

    Did anyone mention a non-circumvent agreement?

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