BMB15_8print

Express Date Sale
This process compliments properties that have unique features, are strong in demand
or require a timely decisive selling outcome. We adhere to a discreet tender process
generally over an intense four week marketing campaign which culminates with a closing
date for sealed written offers. Properties are marketed without a price similar to an Auction
or a broad price range is used.
Our goal is to produce the most competitive bidding process by giving buyers only one
opportunity to put in their best offer. Unlike a public auction, buyers do not have the
advantage of knowing what any other bids are. They are, therefore, compelled to offer
their best offer rather than risk losing the property to another bidder. In a public auction,
instead of paying as much as they can for the property, they only have to outbid the next
highest bidder by a minimal amount to win. They may have paid much, much more.
Although discouraged to do so, the purchasers do have the opportunity to put conditions
in their offer and this is a more attractive option to them as opposed to an auction whereby
they have to sign an unconditional contract on the day and pay a deposit, this process
can cut out a high percentage of buyers who could potentially pay more for your property
but simply can’t comply with the strict auction conditions that are in place.
Advantages
³ ³ Having a closing date shows buyers that the seller is motivated to sell
Disadvantages
³ ³ Discreet process, unlike a public auction that does not have a fall back
plan if it does not sell on the day particularly if the property is passed in
³ ³ If a buyer inspects the property and wants to buy the property immediately,
we encourage them to submit an offer that is attractive enough for the
vendor to accept and forego the remainder of the campaign.
³ ³ Some buyers like the opportunity to negotiate, but if there is high demand
and it is the correct property to sell in this way it will not matter
³ ³ Some additional marketing costs are incurred.