confidentiallity aggreement with real estate ageny + duration

[HattrickNZ]

how long do they last for?

I recently signed one looking at a business that was on the market. I am still interested in the business but the timing is not right for me at the minute(personnel and finance),
and I may have to wait some time.

How does this affect the confidentiallity aggreement I signed? Does this last indefinitley?

I am not too sure what the vendors aggreement is with the estate agent but I would imagine there is a timeframe on it. So after such a time could
I possibly make the purchase of the business after the vendors aggreement with the estate agent expires, thereby cutting out the agent? That is if the time is right for me. That is not my intention, but I am obviously jsut wondering.

[donna]

Don't you have a copy of the agreement HattrickNZ - the term should be mentioned on it.

cheers,

donna

[Rosco]

how long do they last for?

I recently signed one looking at a business that was on the market. I am still interested in the business but the timing is not right for me at the minute(personnel and finance),
and I may have to wait some time.

How does this affect the confidentiallity aggreement I signed? Does this last indefinitley?

I am not too sure what the vendors aggreement is with the estate agent but I would imagine there is a timeframe on it. So after such a time could
I possibly make the purchase of the business after the vendors aggreement with the estate agent expires, thereby cutting out the agent? That is if the time is right for me. That is not my intention, but I am obviously jsut wondering.

Hi HattrickNZ,

I think you are looking at this completely the wrong way. If you have been introduced to the business for sale through an agent, then you should continue to go through them and they should get the commission. It's not right to cut them out.

Confidentiallity agreement - This is generally put in place to keep the vendors business and opeartions confidential. So there is no timeframe, you cannot use or give out this information ever. You could check the wording of the confidentiality agreement, but again you shouldn't be looking to get around this agreement as it is put in place for a valid reason.

Ross

[HattrickNZ]

Hi Donna, It doesen't have a term, there is no mention of a date in the confidetial aggreement. Is this normal practice? I would imagine there is a term between vendor and real estate agent?

@Propertytrader, thanks but not interested in a partner at this stage.

[HattrickNZ]

tks Ross, I found it my self by chance , the agent just happened to be the person to go through. But I take your point. As I said I was just curious.

But if it was a long time after first checking the business and then your circumstances changed and you were ready to make an offer, and then that agent was no longer on the businees(for whatever reason). Would you still go through them? tks

[Propertytrader]

hi HattrickNZ

Dont worry about it,just break the rule and advise about the biz, i got some $$$ to spend.


Business rules are to be broken

[speights boy]

But if it was a long time after first checking the business and then your circumstances changed and you were ready to make an offer, and then that agent was no longer on the businees(for whatever reason). Would you still go through them? tks

I would approach the vendor.
Fully disclose your previous interaction with the agent.
Have the vendor tell you in writing as to whether they require you to deal with their agent or not.
Go from there.

Personally I think the agent should be informed also, so they can discuss with the vendor.

[Wayne]

I may be able to help with finance and we can even be partners.

Dont worry about it,just break the rule and advise about the biz, i got some $$$ to spend.
Business rules are to be broken

Would you really want to go into business with this person - a person who so willingly breaks rules and lack ethics and morals?

[jimO]

Would you really want to go into business with this person - a person who so willingly breaks rules and lack ethics and morals?

who are you refering to the realestate agent?

[Propertytrader]

Jim0 real estate agents have to throw in some white lies, to get a bigger commsion.

[Damap]

DNFTPT

[jimO]

Jim0 real estate agents have to throw in some white lies, to get a bigger commsion.

one of my favourites was when a mates house was on the market they said it had a sea view, they forgot to mention you had to either stand on the handrail of the deck or get up on the roof

[Wayne]

who are you refering to the realestate agent?

I'm talking about Propertytrader - he offered to partner as in the 1st quote (though this has since gone)