Question:
“I just missed out on a house that I wanted. The sign says the house sold so I’d like to find out the price. Can you find out for me?”
Answer:
To paraphrase a recent president, it all depends on what the meaning of “sold” is.
“Sold” may mean that the buyer and seller just agreed on a price and it will be several weeks of “escrow” before it closes.
“Sold” may also mean when the deed is recorded, the sale is final, and the buyer owns the home.
Agents are not supposed to tell you the sold price until the sale is final. Why?
Because if the sale cancels, the agent would have revealed what price the seller was willing to sell for, putting the seller at a disadvantage when negotiating with future buyers.
It’s a violation of the agent’s duty to the seller. By the way, a few agents will spill the beans about what price the seller accepted, violating this duty.
So we’ll have to wait until the sale is final. I could call the agent and ask, but I’d be asking him or her to violate his duty to the seller. And the odds are they wouldn’t tell me anyway.
