Amp » The Shady Seller Lockdown Trick

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Amp » The Shady Seller Lockdown Trick

Deal Analysis on Demand Software - How to Use

In this session we’ll reveal a sneaky (but 100% ethical) way to protect yourself in any transaction from an unscrupulous seller who might try to weasel out of your deal.

  • It could be because he’s changed his mind on the contract and wants to fish around for better offers…
  • …or maybe a sleazy investor is trying to snipe your deal out from under you…
  • …or maybe the seller just flat out decides he doesn’t like you any more for whatever reason (as happened to me) and doesn’t want to honor his agreement anymore…

Regardless of the reason, you do have a viable option to protect yourself and lock down your deal. We’ve both deployed this little trick in the past and it’s made all the difference. 

Watch and Enjoy…

Resources Mentioned in This Session…

Comments? Questions? Random thoughts? Let’s hear it…

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Whoa there, partner…turns out this training isn’t quite ready for you yet. But our little elves are working on it, and as soon as it’s posted, we’ll send you an email (how nice of us!) and then it’ll magically appear here for you. Patience, Grasshopper…we’re eating the elephant one bite at a time. 🙂

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26 Responses to “Amp » The Shady Seller Lockdown Trick”

  1. Darryl Mitchell Reply

    Boom, Boom, Boom! Thanks guys for a great document. I have not had my first deal yet but have heard this happening from a couple of wholesaler friends.

    Great document for the tool kit!

  2. Houston Lewis Reply

    great way to cover your own self to keep thing in your process on all deals you do. make it a habit.

  3. Garmen Calhoun Reply

    Gentlemen;
    Patrick & JP, as always great stuff. I would have never thought about this simple trick. Question where can we download the this contract. I know it might sound silly, but I simply cannot remember. Please advise and look forward to some more good info.Great coaching guys.

    Carmen C.

    • Charity Akers-Greathouse Reply

      Hi Carmen, the affidavit of equitable interest is the type of form that will need to be filed to show you have an interest in the property you have under contract. The download that is a part of this training is a template. Patrick suggests getting the specific form for your area from your closing attorney or title company.

  4. Ricardo Costa Reply

    thank you very much , ricardo

  5. Ronald Pauline Reply

    If you have a contract for 60 days, do the affidavit of Equitable interest expire after 60days.

  6. Joseph Tucker Reply

    Hey Patrick,

    If I feel the seller is being sketchy, do I than use this document or do I have to use it beforehand? Thanks

    • Patrick Riddle Reply

      The seller does not have to sign the document for you to file it on record. So, you can do after you get the property under contract.

      – Patrick

  7. Barbara Willis Reply

    The session was very informative. I am getting behind in class. I have to go back and review some of the lessons to get better understanding.

    • Patrick Riddle Reply

      Hey Barbara, no worries on “getting behind.” As a member, you get lifetime access to the member’s area (where you can find all of the core training, amp sessions, resources, etc).

      I would suggest scheduling a specific amount of time for study/action towards your REI goals and going through the program based on your available time.

      As you take action, let us know how we can help.

      – Patrick

  8. Michael Underwood Reply

    wow This is awesome, There is nothing like having the confidence in Knowing no one can get around you , This is the true meaning of locking up a deal, This is Amazing
    Thanks guys ,I don’t know about anyone else but your blowing me away with this stuff !!!

    • Patrick Riddle Reply

      Love hearing that you’re blown away with the training 🙂

      Yep, this is how you lock up a deal for sure!

      – Patrick

  9. THOMAS WASSMANN Reply

    Where do you record this exactly?

    • Patrick Riddle Reply

      Hey Thomas, you’ll record this at the county courthouse in the area where the property is located.

      – Patrick

  10. William Palmer Reply

    Hey Patrick,

    If you get paid a fee to clear the title, how do you actually release your affidavit? Do you have to file another document at the courthouse?

    Thanks.

    • Patrick Riddle Reply

      Hey William, yes, you file another document at the courthouse to satisfy your affidavit. Whoever is handling the closing can put that document together for you.

      – Patrick

  11. Joanne Mines-Sims Reply

    Great question and answer re filing a Release of Lein, Robert and JP! Thank you.

  12. Joanne Mines-Sims Reply

    Great Strategy and Info Guys! Thank you.

  13. Robert Chamberlain Reply

    Is there a separate form you need to release your claim if the issue is resolved?

    • Great question, Robert. Usually a release of lien. the closing attorney will provide you with one.

      • Eddie Tucker Reply

        Does it resolve itself after closing?

        • Charity Reply

          Hi Eddie, Patrick says that whoever handles the closing (closing attorney or title company) also handles the paperwork for the property. Or like it is explained in the video, Patrick wholesaled to te the buyer and the doc recorded was satisfied when wholesale fee was paid. I hope this helps!

  14. DON JACOBS Reply

    FURTHER AFFIANT SAYETH NOT {or NAUGHT), as you probably already know, is a legal term which builds a fence around the subject of the Affidavit. It states, in effect, that the subject in the Affidavit is the complete, and total, information covered, and there is nothing beyond this statement to be said by this person.

    The statement effectively means that “the Affiant has nothing further to say on this subject”. This is all this person has to say about the topic covered.

    I am sure that you already knew this, and you were merely poking fun at the legal double-talk that appears in most submissions of a barrister. ;^)

  15. Darren Anderson Reply

    Awesome thanks!

  16. Darren Anderson Reply

    Do I record this with the county? Also do I have it recorded with the purchase contract?

    • Patrick Riddle Reply

      Hey Darren, “yes” record it with the county. We only record the affidavit, not the contract.

      If we can help with anything else, let us know.

      – Patrick

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