Yesterday morning I faxed a brief
letter to the buckingham agent, copied
to the Buyer's lawyers, that basically
said that the confidentialty clause had
to go. The result? The agent informed
me that the purchase price did not have
to remain confidential as the Buyer
thought my explanation for its removeable
from the clause was reasonable. I told
him that he knew and they knew (referring
to the Buyer, lawyers) that the purchase
price would be public info during the one
year period that the agreement requires
the Seller to keep the purchase price
confidential. I told him that I thought
it was dishonest. He pretended that he
didn't know what I was talking about.
He also said that the expenses would
remain confidential. I asked why. And
he gave the same lame reason that
he gave for when the purchase
price was still part of the confidential
clause. He said "they" don't want the
other homeowners to know as they may
get upset if someone got more than them.
The agent told me last week that I
am the last of the homeowners in which
an agreeemnt is to made. That means
the Buyer has contracts with all the
other homeowners. Contracts, it they're
legal,are binging on all the parties. So
it seems to me that even if my expenses
became known to the other homeowners,
the Buyer already has legally binding and
enforceable contracts in which I'm am
certain will not be breached over expenses.
I don't see a legal risk unless the Buyer
has done something illegal.
Each homeowners needs are different. So it
would only be logical that expenses would
be different for all the various homeowners.
So I don't see any reason that my expenses
would have to remain confidential as per
paragraph 10(a). It still has to go. As in
GONE!
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