Barry Plant Inner North Group has been servicing the Darebin City area for over 40 years and has an outstanding track record in achieving outstanding results for clients.
Private sale methods & Auctions
Private Sales are ideal for sellers that don’t have a need to sell urgently and who may be open to accepting different sale terms such as an extended settlement period, or subject to finance etc.
There is no fixed date advertised for the property to be sold by and you have more time to consider offers made by potential buyers. A strong marketing campaign is put in place to attract the maximum number of interested buyers to your property. Once your property is advertised, potential buyers are invited to inspect and make an offer. This is when the negotiating expertise of your agent and their intimate knowledge of market conditions comes into play as they work with you to get the best possible price. You can accept an offer at any time.
When a sale has been agreed to, a deposit will need to be paid. This can be 10% of the purchase price or less if you agree. The sale can be made subject to conditions such as obtaining finance approval (as opposed to purchasing a property at Auction, where the sale is unconditional). There is also a three day cooling off period on all forms of Private Sales (including Sale by SET DATE®) for purchasers from the date their offer was made.
An Auction is a very successful method of selling a property. A date and time is set for the Auction and a strong marketing campaign is put in place to attract the maximum number of interested buyers to your property.
Unlike private sales, Auctions have a high degree of emotion as cashed-up buyers compete with one other to obtain the property they have set their hearts on owning. The competitive nature of Auctions coupled with a highly skilled Auctioneer can lead to you achieving a price above the value of the property and exceeding your expectations.
Selling by Auction gives you the protection in the form of a reserve price and your property can’t be sold unless bidding reaches this pre-agreed level. However, a property that is advertised for sale by Auction can sometimes be sold before the Auction date if an offer is put forward by a buyer that is acceptable to the seller.
When a buyer has the winning bid at an Auction, they sign an unconditional contract with no cooling off period. There must also be a 10% deposit of the purchase price paid on the day. An Auction provides you with the ability to sell under set terms that suit you, such as a specific settlement period. The purchasing terms of the sale are advertised with the property leading up to Auction day so all buyers are aware of them before they bid.