On one hand, we are working with many property owners, who would like to sell their properties. On the other hand, we are working with many investors and buyers. Generally speaking, when we want to sell a Commercial/Residential property or even a Business, buyers will ask for more information. In this situation, a Real Estate Salesperson should provide the information to the potential buyer. Some sellers do not like to provide information to the buyer before offer or Confidentiality Agreement. That is why we would like to talk about the Definition Of Confidentiality Agreement in this post.
In addition, we are doing our best to educate our clients. Sometimes, when the potential buyer wants to sign the Non-disclosure Agreement, they scare alot! They have a scary picture in their mind regarding signing any agreement. But, as a simple definition of the confidentiality agreement, you agree to not provide the said property’s documents to anyone else. In some cases, you can share information with your lawyer or your accountant. So, it does not mean that you signed an agreement with your salesperson.
Non-disclosure agreements, NDA, confidential disclosure, etc are other names of the Confidentiality Agreement. The best way to understand the way is by asking questions from your real estate agent.
In the end, we are asking you to let us explain more for you, then you can make the right decision. So, if you need our help, please reply!
BABAK MEHRABI, Real Estate Salesperson