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- Whilst this is a convenient sales method, we believe that it reduces the chances of obtaining the optimum price as there is an open-ended sale time.
- There is no defined sale date, which reduces the ability to generate urgency to bring parties to the negotiating table with serious intent, and tends to invite conditional offers.
- A price is required on the property, in order for it to be accepted by buyers as genuinely on the market, and that the owner has serious intent to sell.
- Can focus all initial attention on price.
- Requires parties to register their interest in the property within a specified period of time.
- Unearths buyers who are interested in commencing negotiations for the purchase of theproperty; however its weakness is that it requires no formal offer to be made.
- Invites the purchaser to submit expressions of interest on their terms, not Vendor terms.
- Retains confidentiality between purchasers and allows the vendor to deal with the preferred party, should they wish.
- It sets a specific timeframe within which a formal offer must be made.
- Offers may include conditions or trades as part of the purchase price.
- Lacks transparency – suits properties that require “in depth” investigation and due diligence.
- Encourages purchasers to compete with each other to reach the highest price.
- The time frame and sense of urgency gives the buyers a focus and incentive to perform.
- The terms and conditions of the Contract are prepared in advance to meet the needs of the Vendor, including the date by which the Vendor wishes settlement to occur. Prospective purchasers are unable to negotiate, modify or require conditions to be added.
- The Vendor sets the reserve price below which no sale can occur. Competitive bidding achieves the highest possible price with no upper limit.
- Properties sold are unconditional with no cooling off period. The property is sold once the reserve has been met.
Selwyn Metcalfe Real Estate has a proven marketing method based on a policy of acting at all times in the best interest of its clients. Selwyn Metcalfe Real Estate Prides itself on the repeat business entrusted to it by previously satisfied sellers and buyers.
Selwyn Metcalfe Real Estate personnel possess an expert knowledge of current market trends. Property owners are assured of obtaining optimum net return and maximum capital appreciation through the cost-efficient computerised management of income producing property.
Selwyn Metcalfe Real Estate specialises in providing service to the investor. Constant market monitoring enables Selwyn Metcalfe Real Estate personnel to provide professional advice on the purchase, sale, leasing, financing and management of investment property.
Various Methods of Sale
Expressions of Interest