Sales public info

JamieMay 25, 2013

I have come to understand that it is not possible to keep a sale price of a piece of real estate private, even if there is no mortgage or other lien to record. Is this true? Is this true for a transaction involving no realtor?

Assume at least one realtor, the listing realtor, is involved in a cash sale for which the sale price is not private. That is, assume that by whatever means are typical, and I don't know what these are, the sales price is public info. My question concerns the remaining terms of sale and transactions. Can you find out, for example, whether the buyer agreed to pay the seller's realtor fees, back taxes, etc?

Thank you for reporting this comment. Undo

The other terms of the sale are not public information, at least in my state. That said, my former MLS required we disclose any seller paid costs (and so does a HUD statement) . It would be rare that a buyer paid additional costs, but it would have needed to be recorded in the MLS after the sale.

One purpose of the MLS was to keep an accurate database of information about sales. It's used by realtors trying to price homes and used by appraisers. This is why that kind of info was disclosed--so people belonging to the MLS had a full and accurate picture of a sale. The information was not available to the general public. It could be disclosed by a member to a non-member looking to buy or sell a house. In general I would have only disclosed this information to a client. I would not have disclosed it to someone that called me up and was just curious.

    Bookmark   May 25, 2013 at 11:25AM
Thank you for reporting this comment. Undo

Here is the DC/MD/VA MLS yes, I can see that there was a "Seller Subsidy" and how much, but it doesn't say what it went for, just the total.

I can also look up the sale amount and if there was a mortgage and how much.

    Bookmark   May 25, 2013 at 12:30PM
Thank you for reporting this comment. Undo

This information varies by state, what state are you in?

    Bookmark   May 25, 2013 at 12:49PM
Thank you for reporting this comment. Undo

condo is in Illinois

    Bookmark   May 25, 2013 at 1:15PM
Sign Up to comment
More Discussions
Will realtor give me the photos of my house for memories?
We are putting our house on the market in order to...
Exclusive listing?
We are moving out of state in July, therefore need...
what do you do with mail that comes for previous occupants?
I always get mail that is meant for previous occupants...
Home Buyers Please Vote: Would you rather ...
1. A $2,000 kitchen appliance allowance or any stainless...
1031 Reverse question
We already purchased an investment property and are...
Patience Spina
© 2015 Houzz Inc. Houzz® The new way to design your home™