Selling through auction or private treaty
If you're planning on selling a house in 2013, there are a number of factors that need to be taken into consideration including the asking price and method of sale.
Deciding how you want to sell your property is a big decision, with auction and private treaty sales each presenting their own advantages.
If you're unsure of which process to choose, the following will help you determine the pros and cons of selling through auction or private treaty.
Auctions are becoming more popular as a sale method, with vendors allowing the market to decide the value of a property.
One of the biggest mistakes that people make when selling a home is to over-value it. By auctioning a property instead, you can gauge a more accurate figure.
Furthermore, the competitive nature of auctioning means that if a piece of real estate stimulates significant buyer interest, there is a good chance it will sell for more than vendors expect.
With no official sale date, a private transaction is more flexible, which may be attractive to buyers.
This method also allows vendors to feel more in control of the sale - with its final sale price overseen by the seller.
Offers are also not shared with other potential buyers, which may be appealing to vendors and buyers alike.