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Someone has bid on a home that I would like to buy. How do I find out what their offer was?

I would like to buy a home for a rental property.  Someone else has now put in an offer.  How do I find out what their potential contract was so that I know how much to offer?
  • August 02 2010 - Las Cruces
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Answers (5)

You can ask but most likely will not get an answer. Unless the other agent has been given permission, you are not going to get it.  The answer you will most likely get is "offer your highest and best" - speaking from experience here.
  • September 24 2010
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I don't think anyone is going to give you that information.  Why not offer what you think it's worth?
  • September 23 2010
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Unless the listing agent is completely foolish and violating their fiduciary  responsibilities, you'd be hard pressed to find out how much the offer was.  The only way they can ethically divulge that information is if the seller allows it, and again, highly unlikely.
  • September 23 2010
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While that is true, Jeff, the important key here is that you have to get the seller's permission.  The reality is they would probably give it if they see an opportunity to get a better price for their home.  In the old days the agent represented the seller and possibly multiple buyers as well.  This is one more reason why an agent should never represent both sides of a sale.
  • August 02 2010
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Profile picture for Jeff Grenz
Ask.  

Years ago it would have been considered an ethical breach to disclose the contents of other offers.  Now, the selling agent is subject to the wishes of the seller and their listing agreement.

One of my most interesting career stops was preparing competitor assessments.  Like any investigator will tell you, ask a few simple questions and many answers will come pouring out....sometimes.



  • August 02 2010
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