Value Bomb: Offers and Confidentiality
Offers and confidentiality are not as clear cut as you might think. Surprisingly, when you submit an offer on a property, the seller isn’t obligated to keep information about you or your offer confidential. In fact, they can talk about it to whoever they want; their friends, family, coworkers, even other buyers that may be interested in the home.
The only way to avoid this is to put a confidentiality agreement in place prior to submitting your offer. If the seller agrees and they sign the confidentiality agreement, then they’re legally obligated to keep everything confidential. It’s actually very rare that these confidentiality agreements are even brought up or put in place, because it can be a bit awkward and it can start negotiations off on an untrusting foot, but most people don’t even know that it’s an option, so that’s why I’m sharing.