Selling by auction is the preferred option for many. This is because your property is generally on the market for a shorter time, and has the highest sales rate. Auctions > An intensive, high profile auction marketing programme attracts genuinely interested, cash-in-hand buyers. These buyers are focused on the maximum price they’ll pay, not how low their offer should be. Combined with the excitement of the big day it’s natural level of competition that helps establish the highest possible price on the day. We’ll assist you in setting the terms, conditions and auction day deadline. Also, the property needs to be only opened for buyer viewing at times that best suit you, so the auction process is regarded as the least disruptive method of selling.
Some of the reasons for selling by auction include:
Sometimes called “a silent auction”, this process has a set deadline for prospective purchasers to put forward their best written contractual offer for your property (maybe either conditional or unconditional). All offer details remain undisclosed and absolutely confidential. After the deadline date / time is reached, vendors have the option to accept, decline or negotiate any offers put forward from prospective purchasers. Due to this level of flexibility, and to the focus of the campaign being on the property not the price, some prospective sellers consider Deadline Treaty as a viable option.
A Deadline Treaty Campaign:
· Builds urgency for buyers with a purchase deadline
· Emotionally engages buyers in property before they consider price.
· Allows seller to set deadline date (option of accepting offers prior).
· Removes risk of over or under pricing – campaign focused on the property and not the price
The property is marketed at a price that is acceptable to the seller. When considering marketing your property with a set price it is extremely important to determine the right figure from the start. Market facts are used to properly gauge this figure. If priced at fair market value, good interest will be shown in the property and it may make it easier for potential buyers to determine whether the property is within their reach. It is usual for the buyers to begin negotiating below the listed price. Over-priced properties take longer to sell and do not attract the optimum number of potential buyers, particularly during the prime selling period. The price will often drop considerably without the competition between buyers. Offers maybe conditional or unconditiona
