Hi AJMJ

Beware!!!  We got involved with a company about 3 years ago who "added value" to properties, i.e., renovate, etc.  For a fee they would source the property for you, outline their "add value" plans and commence the project.  The idea was for a relatively quick turnaround from purchase to sale.  This company was recommended to us from a very good (now) ex-friend.  To cut a long story short we ended up losing about $92,000 through poor due dilligence from our part.  We had regular meetings with the company and everything they said was that the project was going to plan, bla bla.

We, like you thought that, if they were doing all the work for a fee or commission – what could possibly go wrong??  ALOT can go wrong.  One of the problems was that GREED and lack of INTEGRITY got in the way of some of the Directors and some of the "on-the-side" deals they were doing brought the company down – big time!!

I certainly don't want to tarnish every company with the same brush – however, that was our experience.

Lessons learnt – 

– If  you get involved in something like this do your own due dilligence before signing any contracts,
– Enlist the services of your Solicitor to take a look at any contracts between you and the company,
– Find out the structure of the company, i.e., trust, etc (Your Solicitor can conduct this search or you can)
– Don't trust everything they say – research yourself,

Finally, treat it like a business (it's your money), get invloved, request updates, request up front projected figures, get a Written Guarantee on a minumum profit (priceless if you can get it).  Don't sit back and think just because you are paying them that everything is fine.

Good luck