Unveiling home sales price: Essential information you should know

Once you’ve successfully closed the deal on your new home, you might encounter inquiries from friends or family asking about the purchase price. While it’s easy to dismiss your cousin’s curiosity, what if a government agency makes the same request? Well, here’s a little-known fact: you are not legally obligated to provide that information.

Texas belongs to the category of “nondisclosure” states, which means there is no law that compels you to divulge the sales price to state authorities, including appraisal districts.

So, what should you do when an official-looking request seeks this information? The answer is simple – you don’t need to take any action. There are no penalties for refusing to disclose the sold price, and you can safely ignore any such inquiries.

Certainly, amidst the excitement of becoming a homeowner, you’ll come across numerous documents related to the transaction. Additionally, you’ll receive various mailings offering different services and opportunities, some of which may ask for the sales price of your home. In such cases, it’s advisable to consult your REALTOR® for guidance on how to proceed.

Whenever you have doubts about handling requests for your home’s sales price, your best resource is your local REALTOR®. Not only will they provide valuable guidance during the buying process, but they’ll also offer support and advice as a homeowner. REALTORS® are well-versed in the daily workings of the market and stay updated on the latest forms, requirements, and procedures related to buying or selling a home.

They are committed to upholding the REALTOR® Code of Ethics, ensuring you receive the most professional assistance. Let your REALTOR® be your trusted companion throughout the transaction and beyond, ensuring your questions are answered and you make secure decisions.

For more information on sales price disclosure requirements or if you need assistance with buying, selling or renting in San Antonio and surrounding areas, visit SABOR.com. There, you’ll find the latest property search tools and a wealth of other helpful resources.

By Sara Briseño Gerrish. 2023 Chairman of the Board