Our recent REO listing in San Jose generated more than 27 offers and we had to stop accepting offers in 3 days when the Asset Manager wanted to focus on top 4 offers. That was when one agent called and insisted that he will be making a strong offer. I informed him that there are 27 offers with ALL of their pricing above the asking. What he told me next is the inspiration for this blog.
He asked me: "will you sign and Non-Disclosure Agreement that you will not share my offer with anyone else"!? At first, I wasn't sure what he was asking, so he repeated that he will require an NDA before he sends me an offer! I replied that I have 27 offers and I don't think I will have time to publish his offer to anyone! He then said, "I will take you word on it and won't send you an NDA"! The next day his office called and wanted to see if they can deliver the offer manually since their fax and scanners were NOT working!! A day after we had stopped taking offers they emailed us a document which was a scanned copy of an MS Word document which was NOT readable!!
Granted some of this content belongs in my blog on "How to write the Highest Offer on an REO and still lose", but I needed to ask the question posed in the title. Have you have ever been involved in a transaction where you had to sign an NDA before seeing an offer from the buyer's agent!? What's the big deal with his CAR forms!? Is it the buyer who wants to remain anonymous!? With 27 offers who need the headache. Even if I had one offer, I would not sign the NDA.
Would you!? I welcome your comments!!
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