Selling Your Property

Methods of Sale

Exclusive
  • After reviewing all relevant property statistics and a market appraisal provided to you, you as the vendor will determine a price that you would like to sell for
  • Your Property is immediately 'For Sale' and available to receive offers
  • Buyers in your price range can quickly identify your property as a potential purchaser
  • Being totally transparent, it allows potential buyers to know what price level you want
  • It allows for conditional and unconditional buyers to offer
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 4-6 week period) on the sale, this in turn instils 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
Tender or Deadline Treaty
  • 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

   Download to review or print full document