Does my realtor have to disclose the terms of my current contract to a potential backup buyer?
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Does my realtor have to disclose the terms of my current contract to a potential backup buyer?
Realtor Joe represents me. We have a contract to sell our home through realtor Joe.
Realtor Harvey represents a potential buyer who would like to submit a backup contract.
Is my realtor Joe obligated or legally required to tell realtor Harvey ANY info on the current contract, i.e. price, concessions, time to close or ANYTHING?
Asked on August 27, 2017 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
No, the realtor who represents *you* (i.e. who has to put your interests first and follow your instructions) is under no obligation to share this information with a buyer or potential buyer (i.e. someone on the other side of the deal), especially since it can be used to provide you with a less attractive offer than the buyer may have provided otherwise. The realtor has overstepped his authority; he could only share this information if you authorized him to.
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