An integral part of any business is to maintain the privacy of your clients and the subsequent transactions that you take part in. This is especially important in the real estate industry where clients and potential buyers look for realtors, brokers, or potential sellers who can protect their personal information, property, and business transactions. This is where real estate confidentiality agreements come into play.
If you are a realtor or a homeowner who wants to sell your home or property, a confidentiality agreement is another legal document that you need to create (with the help of your lawyer) in order to comply with the requirements of the business deal. To help you create the best and most loophole-free confidentiality agreement for you and your client, we have curated in this article some of the best real-life examples of the confidentiality agreement for any kind of real estate business deals.
As promised, interspersed within this article are samples of confidentiality agreements for any kind of real estate transactions or business deals. Note that all these PDF templates are used by real companies and organizations and you may use them as a guide in creating your own real estate confidentiality agreements.
A confidentiality agreement is a legal form or document that binds two or more parties in order to protect all the information or data involving a specific legal transaction for a predetermined period of time. For any kind of agreement to be legal and binding, it has to be written, printed on paper, and then signed by the concerned parties in the presence of a notary public or attorney.
Confidentiality agreements are also called non-disclosure agreements or proprietary information agreements. The latter term is commonly used if a transaction involves copyrighted property and trade secrets that should not be revealed to the general public. The specific name of a confidentiality agreement will greatly vary depending on the parties involved. For example, there can be staff confidentiality agreements and there could also be celebrity confidentiality agreements.
If a confidentiality agreement is created for a real estate transaction or if a transaction involves the buying, selling, transfer, or auctioning off of a house, building, land, and other real estate property, it is subsequently called a real estate confidentiality agreement. This kind of written business agreement is usually created if the buyer and/or the seller does not want his/her personal or business information to be known or made available to other individuals or entities aside from those he/she is transacting with.
The creation of a sound real estate confidentiality agreement sample is usually done with the help of a legal practitioner as they can assist you in making sure that there are no loopholes in the agreement. Practicing lawyers can also help in making sure that your confidentiality agreement adheres to local laws and regulations.
As we have mentioned earlier, this article is filled with numerous printable agreement templates that you can use to bind two or more parties into secrecy. Use these free templates with caution and do not forget to have an attorney go over a draft of the agreement before letting a client fill it out.
If you are a realtor or a property owner who greatly values your personal and business information, you should be adamant in making sure that a confidentiality or non-disclosure agreement is stipulated in any real estate business contracts that you sign. You may opt to draft the confidentiality agreement yourself or task another person (an employee or a lawyer) to create an agreement draft and then you will just review the template once it is completed.
Listed below are the top tips that should you should follow when creating a real estate confidentiality agreement. Read each item carefully and make sure to apply these tips when finalizing your confidentiality contract. Read on…
A cardinal rule when writing a real estate confidentiality agreement (or any kind of legal agreement) is to make sure that you use clear and simple words when describing the terms of the agreement. This allows easier understanding between the disclosing party and the receiving party of what is expected from both of them in order to fulfill the terms of the agreement.
For more tips on how to draft a mutual non-disclosure agreement, check out the linked article.
Another important thing to do when writing a real estate confidentiality agreement is to make sure that the written contract is reviewed by a licensed lawyer or attorney. He or she can review the agreement to check if it complies with local and state laws. In addition, if your attorney is evaluating a confidentiality agreement draft for you and your business, he or she can help spot issues or stipulations on the agreement that may affect your business. If your in-house lawyer sees any loophole in the agreement, it is best to follow the plan of action that he or she develops and save yourself from avoidable legal issues in the future. You can also see client confidentiality agreements.
For more information, learn more about basic confidentiality agreements.
The next agreement creation tip that any realtor, homeowner, or buyer should follow when creating a real estate confidentiality agreement is to make sure the written agreement states the things, circumstances, or pieces of information that are covered by the confidentiality agreement. You may also like confidentiality agreement forms.
To illustrate, if you are buying a new house and lot and you do not want anyone else to know that you have purchased that property, you may write up a simple confidentiality agreement to prevent anyone else knowing about your ownership of the new property aside from the realtor or previous owner of the property. Of course, other legal means can be used to force the receiving party to disclose the information. But as long as you are doing everything legally, there should be no reason for a court order to rescind the binding effects of confidentiality and non-disclosure agreement.
A real estate confidentiality agreement is a legal and binding document. And the utmost care should be taken to ensure that it is drafted correctly and accurately. One way to ensure this is by proofreading and fact-checking the secrecy agreement before it is printed out, signed, and takes full effect. You can also see sample confidentiality agreement templates.
If you are drafting your own confidentiality agreement, always make sure that you have company names, individuals’ names, designations, addresses, and other important information should be written correctly. Small typographical errors (especially business names) on a confidentiality agreement can make the agreement null and void. You may also see mutual non-disclosure agreement forms.
So, avoid any potential negative effects on your business and always take extra care when creating your own confidentiality agreement. You may follow and use any of the downloadable templates that we have included in this article to guide you in creating your own simple business agreements. But just make sure that you fill it out with the correct information of the receiving and disclosing parties involved.
The last thing that anyone drafting their confidentiality agreement should do is to always clearly state the jurisdiction of the confidentiality agreement. To avoid problems in enforcing your agreement, you may specify a court jurisdiction where any legal issue/s with the agreement can be heard and tried. You can also like celebrity confidentiality agreements.
Also, remember that different countries will have different kinds of laws associated with the enforcement of standard non-disclosure and confidentiality agreements. That is why you should be one step ahead of the game and make sure that you got all your legal basis covered starting with including a convenient jurisdiction for the enforcement of your confidentiality agreement.
Those are the top five tips that anyone who is drafting their own real estate confidentiality agreement should follow. Put them into use in your agreement-drafting process and you will have an easier time coming up with a mutually beneficial confidentiality contract.
One of the main reasons why it is important to create a confidentiality or non-disclosure rider in any kind of business transaction that you undertake is so that you can protect yourself and your business from any untoward incidents that may involve the release of your personal information or business secrets. Along with all the other paperwork that you need to sign in order to complete a solid business contract in the real estate industry, there is no harm in adding a page or two about your confidentiality contract or agreement.
Choose from any of the free templates that we have shared above so that you can create the best real estate confidentiality agreement for your business. Also, if you found this article useful, feel free to bookmark and share this article with your colleagues in the industry through social media or through your email list.