Methods of sale
There are several sale methods to consider when selling your home.
Speak to your salesperson about which is the most suitable for you and your property type.
Auctions are a public sale in which property is sold to the highest bidder.
While auctions may seem intimidating to those who have not gone through the process before, they are a straightforward way to buy and sell property in an open environment. Buyers can rest assured they are paying true market value, while the vendor receives an unconditional offer on their property. The deadline timeframe of auctions creates a sense of urgency and focuses potential buyers. The open format of auctions also drives competition to obtain the best possible price in a transparent environment.
A tender sets a specific timeframe (usually over a 4-5 week period), which allows purchasers time to carry out their due diligence and then make a formal offer. This sale method encourages potential buyers to complete their due diligence and have finance in place, which reduces the time delay between acceptance and settlement. The vendor has the flexibility to countersign the preferred offer.
Expressions of interest
With this method of sale there is no price and it invites both conditional and unconditional offers. The vendor can choose who they negotiate with.
With this method an asking price is usually placed on the property and purchasers can make conditional or unconditional offers. Buyers are aware of the vendor’s expectations and there is no time pressure on vendors or buyers.