You are here:
- Home
- Real Estate
- Home Buying/Selling
- Buying or Selling a Home
- Disclosing Purchase Price
Buying or Selling a Home/Disclosing Purchase Price
Advertisement
Question
I just purchase short sale house less than market price. (About to closing escrow soon)
Agent ask me to not to disclose the purchase amount, becourse it will affect on the neightbor's home value.
What would you recommend?
Dear HJ;
Disclosing the price before the home closes is not a good idea if there are other homes in the neighborhood that are for sale. However, once the home closes, it becomes public record and anyone can check to see what you paid. At that time there is nothing wrong in disclosing the price. However, since you probably want to protect your investment, it is a better idea to keep silent and make sure that news doesn't get out that homes can be bought for a lower price than full value. Remember, not everyone checks public record.
Good luck,
Jessica Bryan
Related Articles
- Down Markets & Real Estate Investment
- Under Market Value - Homes Priced Under Market Value
- Home Sales Price - How to Pick the Right Sales Price For Your Home
- Buyer's Closing Costs - Prepaid Buyer's Closing Costs - Closing Costs Credits for Buyers
- A Foreclosure Negotiation With The Bank - A Real Life Example
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
©2012 About.com, a part of The New York Times Company. All rights reserved.