New buyer question: NDA required before details — any red flags?

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March 02, 2026

by a searcher from Kennesaw State University in Portland, OR, USA

Hi everyone — quick question from a first-time buyer. I’m having my first interaction with a broker on a potential acquisition. They’re asking me to sign an NDA before sharing the CIM/financials. Is that standard practice? Also, at what stage do you typically see NDAs vs LOIs? In other words, is it normal to sign an NDA well before submitting an LOI, or do some sellers/brokers tie NDA signing to LOI submission? Would appreciate any quick “what’s normal” guidance and any red flags to watch for. Thanks!
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Reply by a searcher
from The University of Chicago in Portland, OR, USA
Yes, it is normal to sign NDA before getting CIM from broker.
commentor profile
Reply by a searcher
from Queen's University in Toronto, ON, Canada
Very normal to sign an NDA before getting access to a CIM
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