For OUR eyes ONLY.... why buyers and sellers are keeping prices confidential

Saturday 09 Mar 2019

There are many reasons why you will see a confidential or undisclosed sale price after a property sells.  The request for privacy can come from the buyer or seller, so at the time of your purchase or sale, you’ll need to agree to the price being published or not and ask your agent to act accordingly. With a number of online real estate portals, once the price is published it will be embedded into internet history forevermore, so if you require privacy the first place is to start with your agent.

 

Agents generally love to publish sale prices as the information allows buyers and sellers to compare their property and make an assessment as to what it could be worth, and for agents to promote a job well done in an effort to secure their next listing, however an agent must always follow their clients’ instructions. With more properties in 2019 selling prior to their public auctions, it’s more likely that less prices will be published.  It’s important to remember though that it is very hard to keep a sale price confidential after a public auction as the price will already be “public knowledge”.

 

At the time of settlement, the NSW Land Registry Services records all details of the real estate transaction including the sale price, so eventually this information can be sought by any member of the public.

 

For more information on sale prices and confidentiality in NSW, go to:

http://www.nswlrs.com.au/about_nswlrs/land_title_questions/how_can_i_get_the_price_i_paid_for_my_property_suppressed

- Kate Webster