Do not compete with me on this deal; do not tell anyone about the details of this deal, especially the address or owner's name.
Basically the person who showed you the deal does not want you to go behind their back and try to pull the rug out from under them. They will allow you to look at the details of their information if you might interested in being a part of it and expect you not to go around them without paying a fair price for information garnered and profited from.
I hope you do not live in California where it seems second occupation after enjoying our state is to be an attorney.
If you want to be part of their deal fine. If you wanted to take a peak at their business plans and then go direct to the other party, beware, the person who first showed you the information will definitely attempt to make the rest of you natural life a living hell.
And think about it, is this the way you wish for your karma to work for you anyway.
If you think you may be interested in what they have to offer sign, if not walk away no knowing the details, such as I am assuming address, terms, timeframe, how the information was secured in the first place. I am assuming there is also a timeframe as the non-compete aspect also.
AND do not tell someone else about a deal you tuned down in the hopes that they will act and cut you in on the deal without paying the person who told you about it in the first place.
__________________
Herm.
visit my new blog at http://acastle4u.blogspot.com/
Building Real Estate Kingdoms
So you can retire in 7 years or less
I am new to real estate investing and I am trying to learn as much as I can through this forum. I have been bird dogging for a while and now I am ready to wholesale my first deal with investors. You have been so kind with your input helping others. I was hoping you could do the same for me.
Do you have a Non-Disclosure/Non-Circumvent Agreement that you can share that I can have the investor sign with me, so that as I present properties to them that I haven't locked up yet, they can't go behind my back and work with either the listing agent or the homeowner? Also do you recommend that I have the investor sign these agreements for each individual property that I present to them? As you can tell I just want to protect everyone involved. Thank you for any help that you can give me.
Non-Circumvention, Non-Disclosure and Confidentiality Agreement
THIS AGREEMENT entered into on this _______ day of ________, 2005 is for the Professional Association and arrangement of Non-Circumvention, Non-Disclosure and Confidentiality between
YOUR NAME, known as “Buyer”, whose office is at 6721 Harford Road, Baltimore, Maryland 21234,
And ________________________________________________________________ known as “Consultant”. (REAL ESTATE AGENTS NAME)
whose principal place of business is at _______________________
hereinafter called “The Parties”.
The Parties agree to respect the integrity and tangible value of this agreement between them.
THIS AGREEMENT is a perpetuating guarantee for six (6) months from the date of execution and is to be applied to any and all transactions present and future, of the introducing party, including subsequent follow-up, repeat, extended, renegotiated, and new transactions regardless of the success of the project.
Because of THIS AGREEMENT, the Parties involved in this transaction may learn from one another, or from principals, the names and telephone numbers of investors, borrowers, lenders, agents, brokers, banks, lending corporations, individuals and/or trusts, or buyers and sellers hereinafter called contacts. The Parties with this acknowledge, accept and agree that the identities of the contacts will be recognized by the other Party as exclusive and valuable contacts of the introducing Party and will remain so for the duration of this agreement.
The Parties agree to keep confidential the names of any contacts introduced or revealed to the other party, and that their firm, company, associates, corporations, joint ventures, partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees, or consultants will not contact, deal with, negotiate or participate in any transactions with any of the contacts without first entering a written agreement with the Party who provided such contact unless that Party gives prior written permission.
Such confidentiality will include any names, addresses, telephone, telex, facsimile numbers, and/or other pertinent information disclosed or revealed to either Party.
The Parties agree not to disclose, reveal or make use of any information during discussion or observation regarding methods, concepts, ideas, products/ services, or proposed new products or services, nor to do business with any of the revealed contacts without the written consent of the introducing party or parties.
The Parties agree that due to the many variables surrounding each Business/Financial Transaction that will occur because of this agreement, the commission to be paid and/or the fee structure between the Parties can vary. A separate fee/commission agreement will outline compensation for each Business/Financial Transaction. The fee or commission agreement must be drafted and acknowledged by signature before all Business/Financial Transactions.
In case of circumvention, the Parties agree and guarantee that they will pay a legal monetary penalty that is equal to the commission or fee the circumvented Party should have realized in such transactions, by the person(s) engaged in the circumvention for each occurrence. If either party commences legal proceedings to interpret or enforce the terms of THIS AGREEMENT, the prevailing Party will be entitled to recover court costs and reasonable attorney fees.
The Parties will construe THIS AGREEMENT in accordance with the laws of the Sate of where the property is located. If any provision of this agreement is found to be void by any court of competent jurisdiction, the remaining provisions will remain in force and effect.
THIS AGREEMENT contains the entire understanding between the Parties and any waiver, amendment or modification to THIS AGREEMENT will be subject to the above conditions and must be attached hereto.
Upon execution of THIS AGREEMENT by signature below, the Parties agree that any individual, firm, company, associates, corporations, joint ventures partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees or consultants of which the assignee is an agent, officer, heir, successor, assign or designee is bound by the terms of THIS AGREEMENT.
A facsimile copy of this Non-Circumvention, Non-Disclosure and Confidentiality Agreement shall constitute a legal and binding instrument. By setting forth my hand below, I warrant that I have complete authority to enter into THIS AGREEEMENT.
FINDERS/CONSULTANT FEE: As negotiated per property offered at the time of the disclosure
Investors Requirement
Any type of real estate or business opportnity with real estate that would yield a small short term profit: commercial, apartments, land, lots, sub-division, farms, land with potential re-zoning upgrade, water, lake, stram or pond fronts, and non-conforming properties.
Offline
Do not compete with me on this deal; do not tell anyone about the details of this deal, especially the address or owner's name.
Basically the person who showed you the deal does not want you to go behind their back and try to pull the rug out from under them. They will allow you to look at the details of their information if you might interested in being a part of it and expect you not to go around them without paying a fair price for information garnered and profited from.
I hope you do not live in California where it seems second occupation after enjoying our state is to be an attorney.
If you want to be part of their deal fine. If you wanted to take a peak at their business plans and then go direct to the other party, beware, the person who first showed you the information will definitely attempt to make the rest of you natural life a living hell.
And think about it, is this the way you wish for your karma to work for you anyway.
If you think you may be interested in what they have to offer sign, if not walk away no knowing the details, such as I am assuming address, terms, timeframe, how the information was secured in the first place. I am assuming there is also a timeframe as the non-compete aspect also.
AND do not tell someone else about a deal you tuned down in the hopes that they will act and cut you in on the deal without paying the person who told you about it in the first place.
Herm.
visit my new blog at http://acastle4u.blogspot.com/
Building Real Estate Kingdoms
So you can retire in 7 years or less
and very well said. I live by those agreemenats and it makes other think twice about messing you over.
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Hi Anita,
I am new to real estate investing and I am trying to learn as much as I can through this forum. I have been bird dogging for a while and now I am ready to wholesale my first deal with investors. You have been so kind with your input helping others. I was hoping you could do the same for me.
Do you have a Non-Disclosure/Non-Circumvent Agreement that you can share that I can have the investor sign with me, so that as I present properties to them that I haven't locked up yet, they can't go behind my back and work with either the listing agent or the homeowner? Also do you recommend that I have the investor sign these agreements for each individual property that I present to them? As you can tell I just want to protect everyone involved. Thank you for any help that you can give me.
Nancy
I just found this example online at google.
NON-CIRCUMVENT AGREEMENT
Non-Circumvention, Non-Disclosure and Confidentiality Agreement
THIS AGREEMENT entered into on this _______ day of ________, 2005 is for the Professional Association and arrangement of Non-Circumvention, Non-Disclosure and Confidentiality between
YOUR NAME, known as “Buyer”, whose office is at 6721 Harford Road, Baltimore, Maryland 21234,
And ________________________________________________________________ known as “Consultant”. (REAL ESTATE AGENTS NAME)
whose principal place of business is at _______________________
hereinafter called “The Parties”.
The Parties agree to respect the integrity and tangible value of this agreement between them.
THIS AGREEMENT is a perpetuating guarantee for six (6) months from the date of execution and is to be applied to any and all transactions present and future, of the introducing party, including subsequent follow-up, repeat, extended, renegotiated, and new transactions regardless of the success of the project.
Because of THIS AGREEMENT, the Parties involved in this transaction may learn from one another, or from principals, the names and telephone numbers of investors, borrowers, lenders, agents, brokers, banks, lending corporations, individuals and/or trusts, or buyers and sellers hereinafter called contacts. The Parties with this acknowledge, accept and agree that the identities of the contacts will be recognized by the other Party as exclusive and valuable contacts of the introducing Party and will remain so for the duration of this agreement.
The Parties agree to keep confidential the names of any contacts introduced or revealed to the other party, and that their firm, company, associates, corporations, joint ventures, partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees, or consultants will not contact, deal with, negotiate or participate in any transactions with any of the contacts without first entering a written agreement with the Party who provided such contact unless that Party gives prior written permission.
Such confidentiality will include any names, addresses, telephone, telex, facsimile numbers, and/or other pertinent information disclosed or revealed to either Party.
The Parties agree not to disclose, reveal or make use of any information during discussion or observation regarding methods, concepts, ideas, products/ services, or proposed new products or services, nor to do business with any of the revealed contacts without the written consent of the introducing party or parties.
The Parties agree that due to the many variables surrounding each Business/Financial Transaction that will occur because of this agreement, the commission to be paid and/or the fee structure between the Parties can vary. A separate fee/commission agreement will outline compensation for each Business/Financial Transaction. The fee or commission agreement must be drafted and acknowledged by signature before all Business/Financial Transactions.
In case of circumvention, the Parties agree and guarantee that they will pay a legal monetary penalty that is equal to the commission or fee the circumvented Party should have realized in such transactions, by the person(s) engaged in the circumvention for each occurrence. If either party commences legal proceedings to interpret or enforce the terms of THIS AGREEMENT, the prevailing Party will be entitled to recover court costs and reasonable attorney fees.
The Parties will construe THIS AGREEMENT in accordance with the laws of the Sate of where the property is located. If any provision of this agreement is found to be void by any court of competent jurisdiction, the remaining provisions will remain in force and effect.
THIS AGREEMENT contains the entire understanding between the Parties and any waiver, amendment or modification to THIS AGREEMENT will be subject to the above conditions and must be attached hereto.
Upon execution of THIS AGREEMENT by signature below, the Parties agree that any individual, firm, company, associates, corporations, joint ventures partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees or consultants of which the assignee is an agent, officer, heir, successor, assign or designee is bound by the terms of THIS AGREEMENT.
A facsimile copy of this Non-Circumvention, Non-Disclosure and Confidentiality Agreement shall constitute a legal and binding instrument. By setting forth my hand below, I warrant that I have complete authority to enter into THIS AGREEEMENT.
FINDERS/CONSULTANT FEE: As negotiated per property offered at the time of the disclosure
Investors Requirement
Any type of real estate or business opportnity with real estate that would yield a small short term profit: commercial, apartments, land, lots, sub-division, farms, land with potential re-zoning upgrade, water, lake, stram or pond fronts, and non-conforming properties.
For:
________________________________________________________
Consultant
Address
__________________________________________
City/State
__________________________________________
Telephone
__________________________________________
Joe Sample/Buyer
Thank you for sharing this document. Most of the ones I found sounded so complicated and had too much legal jargon.
Nancy