METHODS OF SELLING
essentially four ways to sell your home.
OFFER AND NEGOTIATION
are still sold this way, whether through and agent or privately. You
set an asking
price, put your home on the market and if a buyer is interested they
offer. If you’re using a real estate agent and someone wants to make an
the agent usually contacts other interested buyers in case they also
make an offer - so you end up with several offers at once and can
usually more or less in standard format but unless you are using a
reputable firm with years of legal experience and
would be best to have a lawyer check it out. Property Netwrork
contracts are recognised as being of the best in the industry and are
regularly reviewed with top leagl expertise to ensure we remain to to
the standard. If you want to accept, you
sign the form. But if you want to negotiate you go back with a ‘counter
by putting your change on the form and then signing it.
buyer signs the change the deal is done - or they may come back with
counter offer themselves. This process is repeated until you and the
agree on the price and all the conditions - or you can stop at any
real estate agent will act as the go-between and undertake negotiations
behalf – something they are well experienced in.
you and the buyer have signed the form and initialled all the changes,
agreement becomes legally binding. Many offers are also conditional i.e
to some or other event, such as the buyer obtaining a bond, you
pool etc etc.
sellers prefer this method as there is no pressure on them and they can
time to consider offers and wait for the right price. The seller can
until they get a deal that suits them.
SELLING BY AUCTION
popular in South Africa,
auctions are mostly used as a method of sale by Banks and so on for
properties or sometimes if a property is unusual or hard to value
has extremely special features.
whereas banks almost always used the auction route on distressed
they have now realised the benefits of proper marketing and have rather
appointed agencies to market these properties for them.
advantages of selling by auction is that the sale is unconditional,
many sales are lost because the buyer does not have the opportunity to
negotiate. Additionally, auctions are a common hunting ground for
seekers – not the kind of buyer you are looking for.
on Auction Selling
for further information. If you feel this could be
your solution, remember that PROPERY NETWORK has built strong
relationships with specific autioneers and we can offer you full
auction services via this network.
SELLING BY TENDER
give the seller a chance to see what interest there is in their home,
having to put a price on it. Tenders can also be useful if you have a
you need to sell your home by, but
they generally work best for special or unique properties.
buyers are invited to submit written offers, usually by a set date. You
obliged to accept any of the offers, and can choose to negotiate with
the people who have made an offer if you wish. These offers are
submitted to your appointed agent who will open them with a witness or
alternatively, the agent might appoint independent auditors to do this
home is likely to attract a lot of interest, a tender may help you get
price for it. This is because potential buyers don’t know what other
offer and tend to put in their best price with few if any conditions.
On the other
hand tenders can limit the number of people who are prepared to make an
some are put off by the closed nature of the tender process.
you feel you would like to use this option, please do contact us and we can
discuss it further.
This is a
trend that has just not taken off as well as some expected.
Essentially, someone moving from Jhb to PE will advertise that thay
have a 3 bed home with certain features that they wish to swop for a
similar home in PE. If you have a match AND are moving to Jhb the
two sales are then put together.
In practice, using a reputable agent in the city you are moving to, to
find you suitable properties just works better as you have more options
and better flexibility, as you are not bound by the sellers deadlines
In short, swop columns do not work for large assets such as property.