Are Real Estate Offers Confidential?

Tuesday 16 Apr 2019

The confidentiality of an offer you make on a property is determined by the method of sale. At an auction the bids you make for the property are made openly in public and other potential buyers benchmark their own offers against yours. Competition for the property is based on open bids. In a private sale however, your offer is completely confidential and never disclosed to another buyer or an agent negotiating with another buyer. Your confidential offer is made in writing and presented to the vendor. Just as your offer is kept confidential so too are other potential buyers’ offers respected and kept from you. In this method of sale, your offer is not based on another buyer’s offer but simply on the value you place on the property, your financial preparedness to purchase and your desire for the property. You will be guided by your agent and the recent sales of similar properties in the area. For more information about selling or any real estate matters please contact us at First National Balwyn North.