Houses can be sold via private treaty, auction or expression of interest, and the method that’s best for you will count on the kind of house, your target buyer and your personal circumstances.
Just how does a private treaty sale work?
Private treaty is method of purchase where a home is marketed with a set price or guide that is open to negotiation. Inside this instance, a buyer submits an offer to the agent who then presents this to the vendor. The agent will handle negotiations in your way on the path to the buyer, and will suggest you whether to take or decline a package centered on their estimation of the value of the property and market expectations.
1. Compare similar properties.
To achieve a realistic result, you should look into the market in which you’re selling. Examine houses in your local area, the house sizes, amount of bedrooms, style of construction and condition of the property. Look at sold properties in Medway to to have idea of prices achieved recently.
2. Consider buyer demand.
Getting into consideration market demand and the intended buyer, property type and style, your agent will suggest you to list the property in a specific way and also to include: a set price, a price range, on buyer program, or for auction.
3. Meet the market.
Expensive properties sit on the market too long and become stale, making buyers think something must be incorrect with the property. An improved strategy is to fulfill the market with an achievable price. This price might even give your property a competitive advantage, as more interested buyers can business lead to an improved result you expected.
When should you accept an offer?
It’s always tricky to learn when to accept an offer. Naturally , you want a high number, and that may well be achievable. Depending on the interest in your property, your agent may give you advice to ”meet the market”. Although this may sound a bit disappointing, it is practical.