Understanding the way, a sale works can help ease your mind during the undeniably stressful process of selling your home. When it comes to selling your home, you have multiple methods of sale to choose from, including a tender, auction and deadline sale. 

Among these methods, Tender and Auction stand out as the most enticing option for clients  as it gives them the greatest chance of creating a competitive tension a home and gives owners the best chance of multiple buyers competing for a house.   

What are the differences?

With Auctions, bidding takes place in an open environment where buyers can see other buyers and the value of these invite cash unconditional buyers only. This has the potential to limit the number of buyers who are able to engage with the home, but it does enable owners to sell on the day as all bids are cash. Once the reserve price is met, the highest bidder will win, and the owner will not have a choice as to who buys the home.

With a Tender, this private process is where buyers will submit their offer in an envelope after working with an agent who has negotiated the best price. A tender sale offers certain advantages over auctions as it allows buyers to submit conditional and unconditional offers. Once the owner has been presented with the offers, they can choose to accept, reject or negotiate with one or more parties. An owner has complete discretion on what they would like to do and can select which buyer is the winner.

It’s crucial to acknowledge that there isn’t a one-size-fits-all approach that ensures unparalleled success for all properties. To determine the most favourable selling method for your home it is highly advisable to seek guidance from a seasoned real estate agent. Their expertise and invaluable insights will empower you to make a well-informed decision customised to your individual circumstances, guaranteeing maximum benefits from the sale of your property.