Currently there are two methods of sale that are proving very successful in today’s market;
- Publicly Advertised Auction
- Publicly Advertised Private Treaty
The following is a brief overview of both methods of sale;
Auction: Auction is commonly seen as the most pro-active form of property marketing available. Auction sales give you the vendor the opportunity of selling your property at a level in excess of market value due to the competition, urgency and excitement created during the campaign. The Auction method of sale sources genuine qualified buyers quicker and gets better sales prices as a result.
Vendor Benefits of an Auction Strategy
There are 10 main reasons for choosing an Auction Sales Strategy, they are;
- Three selling periods
- At Auction
- Post Auction
- Unconditional Contract of Sale (Not subject to Finance, Build/Pest, etc. etc.)
- No Cooling Off Period
- 10% Deposit upon Signing the Contract
- Safety of an Undisclosed Reserve Price
- There is a Timeline in Place
- The Creation of Urgency and Competition
- Fear of Loss by the Buyer
- Maximum Price with Minimum Time on Market
- There is no extra cost when you use Munn Partners to Auction your home
Private Treaty: Private Treaty is the most common method of sale in the market place and most vendors and buyers are familiar with this method of sale. This method of sale allows for a negotiation between the buyer and the vendor away from the public arena.
These sales allow for the buyer to have a cooling off period and to enter into contracts with conditions such as approval of finance, subject to building inspections and pest inspections. Properties marketed with this sales strategy commonly are advertised with a singular price.