Agent and due diligent

3 Replies

For renovating should you hire your own contractor for the project or use agent contractor? Some of the agents have partner with contractors

Another more important is how to do due diligent against fraud for out of states buyers

They may not go to the house to look at the quality of work and what are done to the house

I'd recommend flying to the area your interested in. Get a feel for the people you will be working with as well as the area.

Agents are generally not partners with contractors.  If they are, they have to disclose a financial interest in recommending that contractor.  Agents might have a simple recommendation for a few contractors.  If your agent seems smart, I would rather rely on an agents recommendation over finding someone blindly. 

Fraud, be specific in your situation, so I can be useful in addressing your concern.  Your bigger concern is likely making sure your Buyer is qualified for a purchase.  His/her offer should be accompanied by a strong pre-approval from a lender OR a verification of funds if they are a cash purchaser (confirming they have liquid assets sufficient for the purchase).  

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The agent have connections with the general contractors and and own mgmt but don't know whether is simple recommendation or partnership? Is under the law for agent to disclose their financial interest in recommendation? 

Should let the agent plan for the rehab with his contractor or should hire own contractor? Maybe not be there to view the work done

They would bill you the work and without viewing the work with the agent oversea the project and rent out the unit once work done Any due diligent to be done