Buyer’s
Resources

Private sale

The majority of Elite Agents & Partners sales are made privately. Many people are surprised to learn this, but a great marketing exposure in a private sale campaign gives all the potential buyers an opportunity to place an offer. At Elite Agents and Partners we have an impressive database of people waiting to purchase.

Tender

A tender invites buyers to put in an offer for your property in the form of a written contract before a specified date. A tender is normally accompanied by a high profile marketing plan to attract more attention to the property than is normal for a private sale programme. One of the very important differences in tendering a property is that nobody else knows what anyone else is offering. Whereas by the auction method you can see that somebody is bidding over the other side of the room and then bid in response.

By negotiation

The "by negotiation" strategy is a very successful strategy and positioned between "for sale" and "auction". It does not set a selling date, but it does maximise the price because of its strategic approach. Instead of putting a price on the property that includes a negotiating buffer, which often deters the target buyer, a price range is used. You as the owner are always in control of the decision to sell. There is no possibility of selling for less than the property is worth. In most cases, the price achieved by this method exceeds private sale expectations.

Buying at auction

If you’re interested in buying the property, yes! There are several benefits to bidding, with the obvious one being that subject to reasoning the vendor’s reserve price, the highest bidder becomes the purchaser. It’s important to remember that if you are the successful bidder, there are no delays. Contracts of Sale are signed and exchanged then and there so you must have your finance in order, and the sale isn’t subject to any conditions (an unconditional sale). With that in mind, it’s important to inspect the legal documentation and arrange any necessary inspections prior to auction day.

Auction
(Unless sold prior)

This means you can you can make an offer prior Auction Date. In many auction campaigns, the vendor provides instruction to their agent that they will or won’t consider any offers made prior to their auction. They would prefer to let the property go to auction and let the competition on the day determine what it sells for. Circumstances vary and can change, however, so it’s best to have a discussion with the agent and seek their advice. It’s so important to make your interest in a property known to the agent, so that they can keep you informed of any developments.

Stamp Duty Calculator

State Revenue Office - Stamp Duty Calculators
http://www.sro.vic.gov.au/calculators