Method of Sale
Private Treaty
Selling by private treaty is when you select an agency to market and sell your property and do everything possible to secure the best price for your property. Your property will go on the market with a preset asking price as agreed and potential buyers will begin to inspect your property and make offers. You are then in a position to accept or reject the offers and have your agent handle the negotiations in order to achieve the best possible price for your property. This method of sale targets buyers who simply want to view properties in their price range as the price is advertised to the public.
Auction
Advantages of Selling By Auction
Sale by Auction gives:-
• YOU more control
• YOU set the auction date
• YOU set the settlement date
• YOU set the reserve price
We encourage competitive bidding at the auction to achieve the highest price for YOU.
The auction method of marketing ensures:-
• There is a deadline for purchaser performance
• No marketing costs are known and confined to the pre-auction period
• The Vendor dictates the terms, not the purchaser, which is normally the case in private treaty and tender sales
• No asking price is set, leaving the market to determine value
• Success rates during the auction period are 80% - 90% compared with 10% - 18% during an identical term under private treaty conditions
• Competition at auction frequently achieves a higher price
• Prospective buyers compete with one another, rather than the Vendor
• Immediate exchange of contracts ensures against loss of sale
• The 10% deposit is forfeited if the purchaser does not perform