if you don't want the sale price to be shown

Hi all,

if you just bought a property cheap and were wanting to flip it / on sell it and didn't want the new buyers to know how much you paid for it. (etc by looking at the sold section in RE.com or rp data) how do you prevent this?

i was told a year ago that it's a RE form that you fill in which doesn't disclose the sale price to the public. does anyone know of this? is this correct?

Cheers, Elives

 

Haven't heard of an official form for this but AFAIK once the sale is complete the title info is registered and available for data collection so all property settlements end up on public record sooner or later. Maybe call up and ask the REA if they could not list it... The that might work if they're willing.

 

It's only useful if your turnaround is quite quick (a few months at best) because like AlexH said, once the title is registered the information is publicly available.

I'm a valuer and come across this situation quite often (price disclosed and agent refusing to say), more so for commercial properties though.

 

You can request the REA not to disclose the price however if it wasn't part of the COS then maybe dangle a carrot of we are going to renovate and flip and would need a REA.

However the price will eventually get listed.

Also what happens if the property market goes backwards can also work in your favour