Protecting yor interest in a lead, when you are a novice at estimating repairs.

[Ronald H.]

Vacant two story home and a seller who MAY be ready to sell.

I have not approached her, because I know her house needs a lot of work and I do not know how to come up with a sensible total for repairs, which means I need a Contractor.

If I bring a Contractor over and he thinks it is a good buy, he could make an offer to the seller and undermine my interests if I do not have a right to buy the house. The Contractor will have more knowledge of Repair Costs than I will.

Without knowing how much to fix this house, I will not be able to make a sensible offer. I could be way out there.

How do I protect my interests in this type if situation?

[Ibrahim Hughes]

Good question. Much of your self-defense will rely on 'attitude' and 'posturing'. In other words you will need to come across as being knowledgeable about the biz and repairs without really knowing ish - lol.

Really. But it can be done.

Do you have a buddy who knows repairs and their associated cost?Maybe you can have him walk you through the place ahead of time and give you an idea of what things cost. Or maybe he can accompany you with the contractor and be presented as your biz partner. Now that was 'attitude'.

With posturing you will make the contractor think that you have this thing locked in with the seller. You will need to make him think that the you and the seller have a good rapport so he doesn't even think about circumventing your relationship to this thing.

And then you will bring psoturing and attitude together and let him think that you find great deals like these regularly and you will need his services on future deals if he handles this one correctly at a good price.

Use posturing and the right attitude correctly and you don't have to worry about the contractor trying to get slick. But come across as a nervous newbie and he may just eat you alive. Just my opinion.