Nonxompete Agreement

Posted in Creative Real Estate Discussions
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  • Anonymous
    August 10, 2019 at 4:08 pm
    Anonymous

    I may be using the wrong term here. Basically, I am looking for an agreement that I may strike with a fellow investor before I share any particulars on a property that I am looking to put a offer on. Is there such a agreement? If so, do you have recommendations.

    Thanks,

    Ray

    Jackie Lange
    August 10, 2019 at 4:13 pm
    Jackie Lange

    HI Ray

    You don’t EVER want to tell anyone else about a potential opportunity until you have a contract on it.

    Get the contract first – LOCK IT UP!
    Then, and only then, tell other potential buyers about it

    Of course, you can tell us about the opportunity (leave out the address) and we can help you structure the offer if you need help. But never give the address to anyone until you have a solid contract to buy the property (with a contingency clause)

    Anonymous
    August 10, 2019 at 4:16 pm
    Anonymous

    HI Jackie,

    Is there a agreement that I may craft that would protect me? The investor mentor has offered to support my structure the deal but I am hesitant to share the address. She insists that she has no interest in the potential deal but I would like protect myself.

    Thanks,

    Ray

    Jackie Lange
    August 12, 2019 at 4:46 pm
    Jackie Lange

    Ray,,

    Don’t do it!

    We can help you structure the deal right here.

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