When it comes to selling your property there are two popular methods to choose from:
If you submit your property for Auction this means that prospective purchasers will bid competitively against one another at a date and time which suits you. You can set a reserve price which is the minimum you will accept. Once bidding has passed that level the auction is considered open. The sale to the ultimate bidder is unconditional, with no cooling off period, and a deposit, generally of 10%, must be paid on the day.
For Sale (Private Treaty)
Sale by Private Treaty means that you set a price at which your property is to be advertised to the public via the marketing plan. Negotiations then take place around this price until a sum is agreed upon by both parties. A cooling off period applies to Private Treaty sales, meaning that buyers have a grace period in which to retract their offer.