Choosing Your Method of Sale
There are three methods of sale typically used for residential property in Australia - Auction, Private Treaty and Expression of Interest.
Real estate auctions have become one of the most popular methods of buying and selling property in Australia with substantial benefits for both Sellers and Buyers. Some advantages for Sellers are:
• Control – as the Seller you set the terms and conditions
• A cash unconditional contract and no ‘cooling off’ period applies
• Allows 3 opportunities to sell – before, at auction, or immediately after – reducing the overall selling time in the market
• Allows all potential buyers to compete amongst themselves to offer you the best price
Selling your home by auction is proven to be the best method of establishing true market value of your property.
This means that your property is for sale at a set price or within an achievable price range. Your advertising campaign can be designed to suit your needs, you can be flexible with open inspections and negotiate offers made at any time.
Also known as Sale by Tender, the property is advertised within a price range or target. The purpose is to invite buyers to consider their highest and best offer.
Written offers, or tender documents, are submitted prior to a closing date and time, when all offers are presented to the seller. This process is often suited to commercial property, large estates or development sites.
The best method of sale will be the one your most comfortable with.
Your First National Riggall Sales Consultant is skilled in all types of sales so you can be confident in selecting any of these sales methods.