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I've heard that after a buyer closes on a home purchase, the selling price becomes public record, but how do I find that information? I'm interested in a few homes in Arkansas, which I made offers on, but was 'outbid' on in each occasion. The final straw was the most recent home which my husband and I REALLY REALLY wanted to purchase and had offered over the 'asking/listed price' on. Ten days after we made our offer, the listing agent contacted our agent to tell us there were other offers on the home and 'would we like to re-bid or refine our offer?'. Of course, we were not told if the other offers were above us, below us or the same as ours. We maintained our offer thinking we were ok as we met and exceeded the asking price (AND the home had been on the market for a couple of years!), and we were then told we were outbid and lost the home. The listing has been pulled now, signaling the home was closed on, so we would like to know just how much we were outbid by. We suspect the listing agent who was privy to the offers informed her own buyer what to offer in order to outbid us. In this way, she wouldn't have to split commission. So, I would like to know how to find 1. What was the selling price? 2. What was the name of the buyers agent? and 3. What was the amounts of ALL offers, as well as dates and times of the offers. With this information, I can piece together just exactly how we lost our dream home. If the winning bid was submitted before ours, then we just didn't offer enough. If it came in AFTER ours, or was 'refined' after ours was in, AND if the buyers agent was also the listing agent, then we know there was an ethical problem. Any answers?
So, I would like to know how to find 1. What was the selling price? 2. What was the name of the buyers agent? and 3. What was the amounts of ALL offers, as well as dates and times of the offers. With this information, I can piece together just exactly how we lost our dream home. If the winning bid was submitted before ours, then we just didn't offer enough. If it came in AFTER ours, or was 'refined' after ours was in, AND if the buyers agent was also the listing agent, then we know there was an ethical problem. Any answers?
1. The selling price should be public knowledge. If you can't ask another RE agent to get the information for you, try to find it online. If you have a Multiple Listing Service in your area, go on that public website and check for the address. You can also try Trulia, Redfin or Zillow, but their information is not immediate, because they don't get a direct feed from MLS. If all else fails, contact your County Court House which is where the deed was recorded.
2. This information MIGHT be contained in the above sources as well (not the Court House). Otherwise you'd have to ask another RE agent to get you the info.
3. I doubt if you'll ever get that information, unless the listing agent is willing to share it with you. Doesn't sound as though that's going to happen. That information was most likely destroyed, since it didn't actually lead to a closed transaction.
Last edited by Elke Mariotti; 02-20-2014 at 11:19 PM..
The OP is talking specifically Arkansas but, for other readers of this thread, no every state is a disclosure state, e.g., sales prices and other terms of home sales is NOT public information. You won't find the sell details at your local county clerk or county tax office. Texas is an example of a non-disclosure state.
Also, be careful when you're looking only at the sales price of a home as this price may (most likely, does) include seller concessions. For the general public, the only information that might available is information off Zillow or a similar website which may be hugely inaccurate. For users and subscribers to the MLS in my south Texas area, the MLS services display the selling price, seller concessions, financing terms (conventional, FHA, VA, cash), and similar information.
For example, a home that sold for $200,000 with $8,000 in closing costs actually had a selling price of only $192,000. ($200,000 would be the mortgage amount, a number that is also a non-disclosure item.)
As a data point, the selling price can be very misleading without additional information or verification.
Our MLS has direct syndication with Zillow, Trulia, etc. We are hoping that it increases the accuracy of our data and gives us more control. We direct feed to them.
I'm in a caveat emptor state, and our county probate actually does disclose sales price when the deed is recorded. In AL, that is not statewide. We have been a disclosure county for about two years now, so you can go pull the deed and a doc is filed with it disclosing the sold price. It really just depends on your area. When I was in Florida it always had the sales price for the consideration. It didn't, however, include any concessions (closing costs, etc).
In regards to the other offers, there is probably no way to find this out. The listing agent will probably not disclose this, and cannot without permission from her client.
How do you know the listing agent represented a buyer in this transaction? It sounds like you are upset you lost this property and are just "assuming" this. The MLS when it records the sale probably has the selling agent recorded in the sold data, ours does. Your agent should easily be able to go in and see who actually was on the selling side of that property.
When you are in multiple offers, the listing agent is typically never going to tell you what the others are. He/she represents the SELLER, not you, and she would have to get permission from her seller to disclose that information which I will tell you any decent agent would advise their client against that. Multiple offers are power shifts from the buyer to the seller and it puts the seller in the strongest negotiating position.
It sounds like (and from a post on another thread) you are a bit disgruntled without any real basis. Saying other agents acting "unethical" when in reality you have no idea what those offers looked like stacked against each other. Even if the listing agent represented a buyer, that does not mean there was anything "unethical" going on.
You lost your "dream home" because you were not willing to do what it takes to ensure you got the home...or if you lost it, that you were ok because it was more than you were willing to pay. Buyers in multiple offer scenarios must put their best foot forward and only YOU as the buyer can determine what that is. You were given that opportunity per your post. You didn't do that, and it seems you are trying to blame everyone else.
3. What was the amounts of ALL offers, as well as dates and times of the offers. With this information, I can piece together just exactly how we lost our dream home. If the winning bid was submitted before ours, then we just didn't offer enough. If it came in AFTER ours, or was 'refined' after ours was in, AND if the buyers agent was also the listing agent, then we know there was an ethical problem. Any answers?
It does not matter if an offer is first or last only that it's the best.
A 5th offer may have raised their offer $5k above yours and got the home.
Multiple offers are a pain but there is nothing unethical about working multiple buyers and getting the best deal for the seller.
If you were selling your car would you not take the highest offer ?
You will never know the details about all the offers.
It does not matter if an offer is first or last only that it's the best.
A 5th offer may have raised their offer $5k above yours and got the home.
I have a RE agent friend who likes to tell the true story that he was representing a couple with two elementary school-aged children who liked a particular home that had multiple offers pending.
The home owners asked for "best and final" offers.
In addition to their best and final offer, this young couple wrote a letter to the homeowners explaining why they wanted that house -- it was in a great school district and they wanted the best opportunities for their two children.
My RE agent friend says the home owners were so touched by the letter (the HO's kids had also gone to that same elementary school) that they accepted this couple's offer, even though it wasn't the highest offer they received on the home.
Sometimes, it can be an intangible that makes all the difference.
I have a RE agent friend who likes to tell the true story that he was representing a couple with two elementary school-aged children who liked a particular home that had multiple offers pending.
The home owners asked for "best and final" offers.
In addition to their best and final offer, this young couple wrote a letter to the homeowners explaining why they wanted that house -- it was in a great school district and they wanted the best opportunities for their two children.
My RE agent friend says the home owners were so touched by the letter (the HO's kids had also gone to that same elementary school) that they accepted this couple's offer, even though it wasn't the highest offer they received on the home.
Sometimes, it can be an intangible that makes all the difference.
I've had several buyers take this approach....successfully. Tug at their heartstrings.
I've been watching a home for a client that has been under contract....and after a month it came back on last night. We got out there today to look, because it was only on the market a few days in the listing before it went under contract the first time. The previous buyer's loan fell apart because he had not yet filed his taxes for this year and needed to show that for two years of self employment income.....and he would probably come back to the property once he had that all settled. Its usually against my nature to put a buyer and seller together.
The owner has owned this property for almost 20 years and custom built the house himself. Its beautiful. He's just not able to maintain the property anymore.
My clients loved it so much, after we left they decided they wanted to make an offer....but we needed to walk the property lines since its almost 9 acres. Called the seller and he said come on back, and he would be happy to walk the property lines with us and the survey to show us where the markers were. I told them we needed to go back so the seller could meet them and interact some with them.
When we got there he came out and walked the property with us, the nicest man. So here are my clients, and their two ADORABLE little boys just running thru the wooded acreage....I could not have planned it better. This man just absolutely loved those two little boys and kept talking about his own two little grandboys.
This house is theirs! Offer in the morning...WOOT!
Last edited by LCTMadison; 02-21-2014 at 06:27 PM..
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