File this under the “Did You Know” line of thinking.  DID YOU KNOW that when you make an offer on a house, it doesn’t necessarily have to be kept SECRET?

It is the listing agent’s fiduciary duty to get the seller the most money for their home.  In the event of multiple offers – a phenomenon making a return – the list agent may inform all parties of the current highest bid and say, “This is where we are now. Make your highest offer.”

A couple of caveats to consider though:

1. Only do so with permission from the seller.  I’d want this permission in WRITING, but email counts as written permission.
2. Always get permission from the seller.
3. Permission.  From the seller.

The buyer may protect himself or herself from their offer being disclosed.  In the contract offer, they can specify under special stipulations that all parts of the offer are to be kept confidential between the buyer, the seller, and their agents.

Still. There have been numerous times I’ve wanted to know what the other party has offered.  From now on, I’ll be asking.

Photo by Coffee Go via Flickr Creative Commons.