When you’re selling a home, navigating the offers process can be tricky—especially when multiple offers are on the table. A common question that arises is whether home sellers or their agents are required to disclose if they've received other offers, and, if so, do they need to share the details of those offers?
In the U.S., real estate laws vary from state to state, and there is no federal mandate requiring sellers or their agents to disclose other offers or their details to potential buyers. This means that whether or not a seller chooses to reveal the existence of other offers—or the specifics, like price or contingencies—depends largely on local laws and the seller’s preferences.
In some states, sellers and agents may be required to respond truthfully if directly asked about other offers. In others, they may withhold this information unless prompted. Even then, the exact details of competing offers are not typically required to be shared.
While it’s often within the seller’s discretion to disclose the existence of other offers, doing so can be a strategic decision. Here are the general arguments either way:
Snapdoor has sold dozens of homes with full disclosure of all offers on the table. In our experience, very few buyers are deterred from submitting an offer. In fact, being fully transparent about offers and offer details leads to higher prices and better terms.
Snapdoor always reveals the existence of other offers as well as their terms through its online bidding platform, so any potential buyer can make a fully informed decision. This is unlike the traditional approach, where sellers and their agents are not generally required to disclose the existence or details of other offers. However, Snapdoor never reveals the identity of buyers or their agents, thus removing implicit bias or the possibility of even inadvertently violating fair housing laws. For buyers who are very motivated to buy a home, by knowing where their offer stands relative to others, they have the opportunity to improve their offer. Snapdoor’s commitment to transparency benefits both sellers and buyers.
Bob Mathew
10 months ago
In the dynamic world of real estate, sellers often wonder how they can stand out in a competitive market and attract multiple offers for their property. Fortunately, there are several strategies that savvy sellers can employ to make their home a hot commodity and incite a bidding war among potential buyers. Here are some tried-and-true tactics to help you maximize your property's appeal and generate excitement among prospective purchasers.
Bob Mathew
a year ago
Selling your home can be a stressful and complicated process, especially when it comes to deciding which offer to accept. If you’re considering using Snapdoor ’s innovative bidding platform, one of your first questions might be, “Am I required to accept the highest-ranked offer?” The simple answer is no , you are not obligated to accept the highest-ranked or any offer at all. Here’s a closer look at how Snapdoor ’s bidding platform works and why this flexibility benefits you as a seller.
Bob Mathew
2 months ago
In the ever-evolving world of real estate, technology continues to reshape how homes are bought and sold. Enter Snapdoor , a platform that’s gaining traction for its innovative approach. But what exactly is Snapdoor ? Is it simply an agentless app designed to streamline transactions, or is it a full-fledged brokerage with a tech-savvy twist? Let’s dive in.