Once it closes it will be public information. Now though, if the sale were to fall out before closing knowing what this contract amount was would give you an unfair negotiating advantage if you wanted to purchase it.

Tricia

That's right. The selling price is a private matter until the sale closes. It's always been that way.

It depends on what state you are in. In Texas a sales price is NOT public knowledge and does not become public record.

KC

Why not talk to the owners and explain that you are going to sell and trying to get a feel for price.

KC, so in Texas (where I lived for many years but never bought), do buyers just rely on their Realtors for comps? No way to find out for themselves what the house down the street sold for 3 months ago?

As far as I know it is public record in Texas too if it is recorded which it isn't always hence not readily available. I don't think the state requires recording it. Yes home owners in TX have to rely more on Realtors or appraisers for comps or you can still go and look up the public records of liens to see at least what mortgage people have on their house.

KC, so in Texas (where I lived for many years but never bought), do buyers just rely on their Realtors for comps? No way to find out for themselves what the house down the street sold for 3 months ago?

Yes, you rely on your Realtor and your appraiser for what the market value on homes are. No, you cannot look up the sales price at the courthouse. If someone buys for cash all it will say on the deed is "In consideration of $10.00 (TEN DOLLARS) ..."

IF they have a mortgage the lien will be recorded but you have no idea how much they put down.

I hear folks tell me all the time they will go look it up at the courthouse but .... you can't do it. Texas is big on privacy, it isn't anyone's business what you paid for your property. Part of that is also due to the fact the our appraisal districts must arrive at the taxable value of the home. They can't get the information either.

KC

The only exception to this is; IF the home was listed on the MLS (where you must disclose sales price) AND the person doing the looking is a member of the MLS.

This is the only way to find out what a home sold for.

KC

"If someone buys for cash all it will say on the deed is "In consideration of $10.00 (TEN DOLLARS) ..."

That is what just about every deed in every state says.
The price is often found stamped in the margin of the deed of conveyance or deed of trust where taxes are assessed at sale based on the proce.
In Virginia the Grantor of a deed pay s a tax based on the sales price. Stamped in the margin is rthe taxable amount and the tax paid.
The reason for the nominal cash listed on the deed is that cointractsd must contain 'consideration' to be valid, and a deed is just a special form of contract.

Now I understand. It's been so long since I sold/purchased a home that I really didn't remember. Thank goodness for knowledgeable people like you guys plus coming right to this forum always gets me a quick answer. ;o)

patty_cakes

brickeye,

I can assure you you will not find the sales price of any home recorded in Texas. I get out of state buyers quite regularly who think they are going to the courthouse to get the sales price of the neighbors home but it isn't going to happen. Our county mails out cards when a home is sold to the Buyer, Seller and the real estate person. This card asks what the home sold for ... because they don't know. You don't have to answer them and most don't. I throw the ones I get in the trash. It is the responsibility of the Central Appraisal District to come up with the taxable value.

KC

That may very well be true, but the example you used was not correct.
I have never seen a deed that contains the actual price in the legal body of the deed.
I have sen many jurisdictions with taxes based on sale price note the pertinent information in the margin of the deed before recording.
Some deeds in these areas are not taxable, and then a common legend is L&A ('love & affection') meaning the transfer was betwen exempt parties as part of a divorce or estate and the tax amount is 0.

Wow. Find it hard to believe Texans are that secretive. Where I live the local newpaper lists all the real estate closings for the surrounding towns every Monday. It shows the buyer, seller, date, address and purchase price. If you watch these for awhile you don't even need comps from an agent.

The realtor has an ethical consideration to the client--that is protected information whether the sale goes through or not....would you want your realtor to disclose what you sold your house for whether it was good or bad? I wouln't...realtor might make general comments like the sellers were pleased with their price but think anything beyond that is being unprofessional...

that is true in TX--why should sale price of home be disclosed as public property--do you have to give the price you paid for your car?
The appraisal district in by county here and they regularly revise home valuations based on who knows what factors---many older neighborhoods have homes that don't sell easily or at the value that the tax authority bases their evaluations---texes tend to do up no matter what the market for property is...at least from what I can see...
just because a new subdivision is going in w/homes in 500=600 thousand range does not mean that my home is worth 20 thousand more when it is 20 years older...

There are realtors in TX who have comp information for specific neighborhoods available...but not many do...some realtors offer a free evaluation if you want to list your house and will bring out comps for pricing...

How do you challenge this "taxing district" if you believe your property tax evaluation is too high? Without knowing what the surrounding comps are...seems like it would be difficult to challenge what the State says? I wouldn't like that.

Tricia

Did I miss something? If sold prices aren't recorded in TX - how to realtors get the information? How do they do comps?
If there is some way for only realtors to get the information that seems bogus. Its not like realtors are Dr's or Lawyers. They don't take a legally binding oath to protect someone's right to privacy about selling prices.

marys1000, yes, you missed something. harley_rider said:
"The only exception to this is; IF the home was listed on the MLS (where you must disclose sales price) AND the person doing the looking is a member of the MLS.

This is the only way to find out what a home sold for. "

It's true, and takes alot of fun out out reading the newspaper, I can tell you. When I lived in another state, I always scanned that section of the paper.

we don't challenge the state - we challenge our county appraisal district - and most of them list the appraised value on a web site. If you had my address you could look up the appraised value of my home, and all of my neighbors.

I can drive thru my subdivision, pick out all the homes built on the same floor plan, look all of them up to see if their appraised value is the same as mine, if I wanted to - and when I put this house on the market next year I will do exactly that.

I also know my house is 'worth' more than many others with my floor plan due to modifications/upgrades some of the others might not have. The house behind me sold last year - it is the exact same floor plan - I have a much larger lot, a bigger and better deck, granite countertops in the kitchen and I know exactly what they sold for because a realtor drumming up business in our subdivision gave me the info.

cm