Community Chat

[Bri369]

In Illinois, there are no verbal offers.  They're made on paper and the potential buyers' names are on the offer.    

That's not public information.   The seller is free to accept or reject the offer.  

[CrazyKittyLvr2]

I did the real estate closing paperwork in a law office for many, many years.

When we got a sales contract the buyers and sellers name were on it. Secretaries and paralegals,like attorneys, cannot disclose any clients names to anyone ever. It's a fireable offense.

If we represented the buyers I could talk to the sellers attorney's office, the buyers RE agent and our clients, the buyers. I could not talk to the sellers nor their real estate agent.

I worked with dozens of real estate agents over the years and I never heard any discuss who was buying what other than the deal at hand.

Once the closing was completed the deed was filed and became public knowledge at that time. Deed transfers were also published weekly in the local paper. That info came from the filed deed.

We were asked once to put Do Not Publish on the deed as the buyer was being stalked. We complied with the request.

[novamc1]

The sale of  home is not a sale until the closing (also referred to as a settlement) occurs, the deed is officially transferred from seller to buyer, and the deed is recorded in the county records.

Up until that point, it's basically irrelevant who the buyer is.  That info might have changed from one day to the next!

Also, it's important to realize that if a purchaser wants to remain anonymous, they can have a "straw man" or entity  purchase and hold the property in that name.

Many property holders do not want their identities revealed, even after owning a property for years.  Think celebrities, for instance.

[novamc1]

No need to "check the real estate laws" in a particular jurisdiction.  Waste of time and research effort.

[heart of savino]

of course you can. I became very friendly with the buyer and family who called me several times to do some measurements in the house and if  I wanted to leave them any furniture or anything thing else.I knew right away who the buyer was from the agent.

[novamc1]

@heart of savino 

Would you feel it's your place to share info about about the new buyers with other curious people, or would you exercise some discretion in revealing how much you "know"?

When the sale is complete, anything is fair game.  Until then, things and the people involved in any transaction can suddenly change or people (buyer or seller) can  back out of the deal altogether. 

 Best to keep quiet until the sale is a matter of public record.

[chrystaltree]

The real estate agent should not and will not give you that information.  You can ask the seller but I know if someone asked that of me, I would never in a million years divulge that information and then I would let the buyer know that someone asked for information that she had no right to know.  

[novamc1]

In case anyone thinks it would be unusual for buyer or seller to back out of a signed purchase/sell contract  right up until the day of closing, I have years of real estate experience to attest that.........

Weird stuff happens.

[Porcelain]

I admit it. I'm the buyer.

And I'll even tell you my name. First name: Nunya. Last name Bizniz.  (Just kidding. But I don't think you should be asking around about this stuff. The people you are asking won't like it and it makes you look odd to them.)

[CrazyKittyLvr2]

@novamc1  You are 100% right.  Until all the documents are signed and the signed deed and the money exchanged anything can happen.

We had people get laid off suddenly and not be able to get the mortgage or something cropped up on the home inspection and the buyers changetheir minds.

I even sat in on closings where everyone was there ready to go and it fell apart for some reason or another at the table.  It was rare to get that far and have it happen but it does happen.