The rule
21 NCAC 58A .0115
Read the source · Source dated 2008/2018
This source is from 2018. Rules and guidance can change, so confirm the current version with the state's real estate commission.
How this works in practice
In North Carolina, the seller's permission alone isn't enough. The seller should still authorize the process, but the price and other material terms of a buyer's offer can be shared with a competing buyer only if the buyer who made the offer has expressly agreed.
Each buyer should give that permission before submitting, in writing, so it is clear their price may be shown to the other buyers. A buyer who hasn't agreed can't have their offer price shown.
Avoid sharing any detail of an offer without that buyer's permission, including rough figures, and avoid escalation clauses that would require revealing another buyer's terms. Keep a record of each buyer's agreement.
Running an offer round in North Carolina
In a BindingOffers round every buyer gives that permission in writing before they can submit an offer, the seller signs a disclosure consent before the round goes live, and every invited buyer sees the same highest offer at the same moment.
Run your first round free