Method of Sale

2016-04-19

When selling a property, we have three primary methods of sale choices:

Private Treaty

  • Buyers can purchase subject to finance, satisfactory building and pest report or cooling off period
  • More flexible time frame for buyers
  • Good for first home buyers

Auction

  • Unconditional sale, which means buyers cannot buy subject to finance, satisfactory building and pest report or cooling off period Fixed time frame for the sale.
  • Definite date to bring buyer’s interest to a decision
  • Social proof for buyers to bid more Decreases the length of time on the market
  • The property is judged on its merits and not price

Tender, expression of interest or by negotiation

  • Fixed time frame for the sale
  • Bids are kept confidential, which
    leads to buyers competing against
    themselves not others
  • The seller has control. They don’t have to accept the highest tender if they don’t want to, but knowing this figure can lead to future negotiations