Moving home is noted as being one of the top 5 most stressful life events (seriously it’s up there with divorce and death).
It’s no surprise that selling a home is a journey, so think of South Coast Realty as your tour guide.
If you are thinking of selling your home, you may be interested to know that there are several types of sales processes:
This is where a property is listed with an advertised price or price range to the public. The agreement for the sale of a property at a price negotiated directly between the vendor and purchaser or their agents. Private Treaty is the most common sale process in South Australia, giving great flexibility for negotiation.
This invites buyers to make an offer on your property by a specific date and time. This is generally over a 4-6 week period allowing potential purchasers to view your property through open inspections. If interested, they will put in an offer (we always suggest that this to be their best and final offer), which is inclusive of any conditions to the purchase of the home. ie. finance, subject to sale, pest and building inspection, deposit to be paid and settlement date. At the close date of the EOI, the offers will be put forward to you for your consideration. Or if you wish, all EOI’s will be presented to you as they arrive and if there is an offer that is fabulous, you are able to accept this offer prior to the closing date (we must advertise – unless sold beforehand). This is also notification to prospective purchasers that offers need to be their best and final offer.
Best offer by essentially works the same of expressions of interest. This invites buyers to make an offer on the property by a specific date and time. The offer is inclusive of any conditions to the purchase of the home. ie. finance, subject to sale, pest and building inspection, deposit to be paid and settlement date. All offers will be presented to the vendor as they arrive you are able to accept this offer prior to the closing date (we must advertise – unless sold prior). This is also notification to prospective buyers that offers need to be their best and final offer, as they may not get the opportunity to resubmit.
A sale by auction is a public sale where various intending buyers offer bids for the property and try to outbid each other. Ultimately, the property is sold to the highest bidder. An auction sale is complete when the auctioneer announces its completion by the fall of the hammer or in other customary manner. The Auction is generally held onsite, run by a licensed auctioneer to attract bids, hoping above the reserve price.
At South Coast Realty our experienced sales team can help you decide which is the best choice for you here.