Methods Of Sale
Private Treaty - In a private sale, the owner and agent agree on a fixed price. The agent handles discussions with potential buyers on behalf of the owner. Once a buyer willing to pay the agreed price is found, a deposit is paid, and settlement terms are set. The property can be sold at any time from when it's listed.
Price By Negotiation - Similar to a private sale, a property for sale by negotiation involves agreeing on a price range between the owner and agent. The agent negotiates skillfully with interested parties to achieve the highest possible price. The property can be sold at any time from when it's listed.
Public Auction - Auction is a public sale where interested buyers bid against each other at a set time and place. It involves high emotions as bidders compete to win the property they desire, often surpassing their price limits. In some cases, a property advertised for Auction may be sold before the scheduled date if the vendor and agent agree on a suitable offer from a motivated buyer.
Public Tender - In a tender sale, there's no advertised asking price. Buyers submit written offers confidentially by a set date, without knowing other bids. This method can be highly effective for unique properties with rare features and locations, often leading to outstanding results.