Finding a Contractor

[Donald M.]

My short question is, how do I find a contractor that has done superb work in the past to give me an estimate on a property I am considering buying, given that my real estate agent does not seem to know any personally? I would be willing to pay for an estimate from a reputable contractor.

The long story if you have time:
I almost made on offer on a 2-family property today that had been listed for a week, has 3 offers, is a foreclosed property that is listed at more than $100,000 less than what it sold for in 2005, and it needs a significant amount of work. Was told I had to submit an offer by tonight and that the best offer would be accepted. My agent said he thought I could get it for $30,000 less than listed since it was in such bad shape and if I offered $40,000 less I would maybe have a 50% shot. My plan was to make the $30,000 lower offer with a $40,000 rehab loan.

Since I've never done anything like this before, I asked if my agent knew any general contractors. He said "Sure, there is a database by my company and I will ask others in my office if they know any" which immediately set off alarm bells because I'd assumed he'd have personal experience with some. He furthermore said it's not useful to have a general contractor to give estimates because they can say anything and one would have no idea if it is an accurate amount. Also mentioned that if I needed contractors I could look in the yellowpages because the main thing is in getting the estimates and that it would be better for me to get a home inspector rather than a contractor. Stated he didn't think I could fix up the place with only $40,000 and mentioned the hassles of dealing with tenants and how fix-it projects can end up costing much more than anticipated.

Since I have no idea of the estimated cost of repairs, I decided not to make an offer although I think the house is a bargain, but is my agent full of it? I mentioned I would like to have a contractor with references and hopefully I'd be able to see the results of someone's work, but my agent said the main thing is getting free estimates (as I said I'd be willing to pay a contractor to give an estimate) and that it'd be better if I went with a handyman (handyperson).

What is my next step? I'd rather not switch agents because I've already spent lots of time evaluating agents and not liked the first 4-5 I've spoken with. Any way to find a good contractor? Is it a reasonable plan to go through a potential property with 2 contractors at 2 different times and get estimates?

I want a contractor because I have a very demanding job and cannot spend time assembling my own team. Thanks for any responses.