Methods of Sale
There are several different “methods of sale” available for the sale of a property. The three main ones being;
- Private Treaty
- Expressions of Interest
Each method has it’s own benefits/merits as described below.
Your friendly Tru2Blu sales consultant will work with you to select the most appropriate method of sale for your property.
Most properties in South Australia are sold by Private Treaty.
The property is advertised to the market inviting offers from interested Purchasers. Private Treaty maximises your buyer market as it allows intending buyers to include conditions with their offers.
These conditions may include the following;
- Subject to obtaining finance approval
- Subject to the sale of their property
- Subject to the settlement of their property
- Subject to a satisfactory building inspection
Under this method the Purchaser is granted a 2 business day cooling-off period allowing them to withdraw their offer and terminate the Contract.
Properties for sale using the Private Treaty method can be advertised either;
- with a specified price range
- with a fixed price
- with no price
Your friendly Tru2Blu sales consultant will be happy to explain the merits of each method and the most appropriate for your property.
The Expressions of Interest method is often used when it is difficult to pinpoint a specified price range and offers are expected to vary greatly.
With an Expressions of Interest campaign;
- offers are requested by a specified time and date
- usually over a 4 week period
- close-off deadline creates competitiveness and urgency
- offers can be conditional
- Purchasers can nominate deposit amount and proposed settlement date
- Purchasers are requested to submit their “Best & Final” offer
- All offers remain undisclosed and confidential
If an acceptable offer is not received by the nominated deadline, the property will likely then be offered with an advertised price.
Auction is the recommended method of sale when there is expected to be a high level of interest and intense competition for the property.
The advantages of selling by Auction are;
- the Contract is unconditional
- there is no cooling-off period
- you set the reserve price and settlement date
- buyers have a specified timeframe
- creates a sense of urgency
- creates a competitive environment
Under the Auction method there is flexibility for the property to be sold either prior to Auction, under the hammer at the Auction, or after the Auction if the property is passed in.
Auctioneering is a professional expert craft and it is critical to employ the services of an Auctioneer who;
- is registered under the Land Agents Act
- is a specialist dedicated Auctioneer
- commands control of the Auction event
- can read the feel of the Auction
- keeps all genuine buyers engaged
- is truly independent
At Tru2Blu Real Estate we will source the best Auctioneer who ticks all the above boxes because the sale of your property is too important to be left to chance.
We are with you all the way.