Disclosure of competing presents in actual property transactions includes a realtor’s potential sharing of data concerning the quantity, phrases, or situations of different bids submitted on a property. For instance, a vendor’s agent would possibly inform a potential purchaser that there are two different presents, one for barely lower than the asking worth and one other with particular contingencies.
Understanding the diploma to which provide particulars may be revealed is essential for sustaining a good and clear market. Realizing this info can affect a purchaser’s technique, doubtlessly resulting in a extra aggressive supply and finally affecting the ultimate sale worth. Traditionally, the moral and authorized boundaries surrounding this follow have advanced, formed by rules aimed toward defending each patrons and sellers.
