METHODS OF SALE

Expression of Interest/ Set Sale Date/ Deadline Sale
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This method of sale requires parties to register their interest in the property within a certain period of time
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There is no price set so price is not an objection
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Vendor may choose who they negotiate with
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Invites conditional and unconditional offers
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Most commonly used where there are multiple possibilities for the sale or lease of the property
Auction
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The auction method of sale is a highly effective way of creating buyer competition to ensure that the best possible price is achieved
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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.
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When a property is sold at auction, the sale is unconditional, a 10% deposit is paid and settlement date is pre-determined
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Auction is the only way of creating open transparent competition between buyers to drive the price upwards.
Tender
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A Tender allows the vendor to deal with the preferred party
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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
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It provides the flexibility for the vendor to countersign the preferred offer
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It also encourages tenderers to complete due diligence and have finance in place, reducing the time delay between acceptance and settlement
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The tender process requires purchasers to submit on the vendor's pre-determined terms and conditions
Priced
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An asking price is placed on the property
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Purchasers can make conditional offers on the property at any time during the marketing campaign
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Encourages both conditional and unconditional offers
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Benefit to purchasers as they are aware of the vendors expectations
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No time pressure on vendors or purchasers
Selling Guides