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