Commercial Real Estate
Purchase Agreement
Washington
Are purchase agreements confidential?
I recently made an offer to purchase a commercial property and the seller has asked me to sign a purchase agreement. I am unfamiliar with the terms of the agreement and want to make sure that it is kept confidential. I am concerned about the potential for the details of the purchase agreement to be publicly disclosed and want to know if purchase agreements are confidential.
1 Attorney answer
Answer
Commercial Real Estate
Washington
Merry A.
ContractsCounsel verified
I hope that you used the assistance of a WA State commercial real estate attorney to advise you in the writing and presentation of your offer to purchase a commercial property, as these can be extremely complicated. (Or, at the very least, I hope you were represented by an experienced and knowledgeable buyer's agent). To my knowledge, this type of PSA agreement is not required to be confidential unless you included that language in your offer. Please be aware that once the sale closes, the amount of the purchase price will be public information, in county records.