Non-disclosure, non-circumvention agreements

how would they know if you dont tell them- just set the appt w/them and get the estimate and say thank you, I'll be in touch

You're absolutely right Mike. I guess I need to exercise a little non-disclosure in those situations:) Thanks!

Roni

Funny that you asked this question...I believe a contractor (that I later found was also an investor) did the exact same thing on a REO that I had him look at. Me personally, I did not use and probably will not use one in the future. Needless to say, this guy just lost my business and potentially future referrals. Its always a good idea to know who you are working with. This happened to be a new guy we were going to use. This house had been listed for over 1.5 years. When I spoke to the guy about meeting at the property he stated that he had a realtor pull some comps to show me (which I never asked for as I had my own). He also repeatedly told me how good of a deal it was. Just checked the other day and the property is pending now....
Approach these issues with caution, but at the end of the day it helps to know your people

Hope that helps!

Roni,

I've never used a non-circumvent document with a contractor; but I do believe that there are some contractor/investors out there that will try to get the properties for themselves.

I actually had a contractor say to my agent that if I didn't make an offer on a property he was assessing for me, that he would make an offer since he thought it was a good deal... there will always be that kind of people out there, that's all I can say...

Learning and progressing every day,
Valerie

It's always good to be cautious but most contractors DO NOT do business that way. They stand to lose too much but it is best to be cautious.

Yeah, I agree with you Lenee. I'm probably not going to use the disclosures with any of the contractors I use. Unfortunately, because I'm just starting out in this business, everyone that I'll be working with will be new to me. I'm just gonna have to trust my gut and hope that the folks I'm dealing with are ethical. I'm usually a pretty good judge of character, but every now and then you run across a shady character. As you recommended, I'll just proceed with caution.

Thanks much for your response!

Roni

Hi Valerie,

Unfortunately, this can be a doggy dog business, especially when it comes to money. We just have to watch our backs and as Lenee recommended proceed with caution:)!

Thanks for sharing:)!

Roni

Consider asking the contractor before giving a address if they buy homes. Perhaps he can go on your buyers list? Or if they do buy homes find one who does not. The guy we use does not buy homes. He is to busy fixing them.

Dan

I have property locked up out of state and want to send buyers to see it. I would be more comfortable telling them it's an assignment deal, double close or release my rights, so I need a non-compete agreement in place first. I have one agreement but would like to see others. If anyone wants to see what I have, pm me.

I think you are alright if you tell them as little as possible. They are mostly reputable people and will not do you wrong. If it comes up, tell them you have it under contract. Do not go into the assignment or anything else. Just that you have it under contract and want to have an estimate of the repairs.

work with shady people,

I NEVER used NCND.

I dont deal with dis-honest people period!

Get it done!

Don't work. The person can still go around because of something called a daisy-chain.
NCND do NOT work.
Like Lane says "deal with honest people".

RENinja