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
rrah

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
barbcollins

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
cmarlin20

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

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

condo is in Illinois

    Bookmark   May 25, 2013 at 1:15PM
Sign Up to comment
More Discussions
Happy story: my sis just bought her first house
Just thought I'd share a happy story! My sister's been...
robo (z6a)
Getting house ready to sell and have door knob question.
My house is going on 11 yrs old. Everything is pretty...
padillasideas
Retiree - rent or buy home
We are newly retired and have a plan to sell our current...
waterlily_girl
Planning on selling my house
We live in a 35 year old home for ten years now with...
4boyz
can he evict us?.
almost a year ago me and my girlfriend and her 5 yr...
Joseph Gonser
© 2015 Houzz Inc. Houzz® The new way to design your home™