METHODS OF SALE

Expression of Interest/ Set Sale Date/ Deadline Sale

This method of sale requires parties to register their interest in the property within a certain period of time
There is no price set so price is not an objection
Vendor may choose who they negotiate with
Invites conditional and unconditional offers
Most commonly used where there are multiple possibilities for the sale or lease of the property

Auction

The auction method of sale is a highly effective way of creating buyer competition to ensure that the best possible price is achieved
The auction process places a time frame (usually over a 3-4 week period) on the sale. This in turn instills urgency into the minds of the prospective purchasers and allows the vendor to determine the terms and conditions.
When a property is sold at auction, the sale is unconditional, a 10% deposit is paid and settlement date is pre-determined
Auction is the only way of creating open transparent competition between buyers to drive the price upwards.

A Tender allows the vendor to deal with the preferred party
It sets a specific timeframe (usually over an 4-5 week period) which allows purchasers time to carry out their due diligence) and then make a formal offer
It provides the flexibility for the vendor to countersign the preferred offer
It also encourages tenderers to complete due diligence and have finance in place, reducing the time delay between acceptance and settlement
The tender process requires purchasers to submit on the vendor's pre-determined terms and conditions

Priced

An asking price is placed on the property
Purchasers can make conditional offers on the property at any time during the marketing campaign
Encourages both conditional and unconditional offers
Benefit to purchasers as they are aware of the vendors expectations
No time pressure on vendors or purchasers

Selling Guides