It’s no secret that the market in Invercargill is heating up, with buyers in the Invercargill residential market screaming out for more houses!

A lot of people have seen many different selling methods slowly coming into force and are somewhat confused by what they all mean. Let’s take a closer look at some of these selling methods, and hopefully, they’ll seem a bit less confusing.

Auction

  • Marketing will state whether the owners will consider offers prior to the auction date
  • To bid, you must be in a cash unconditional position. Therefore, all the due diligence on the home needs be completed prior to the auction
  • 10% deposit is required at the fall of the hammer
  • The possession date is usually predetermined by the vendor
  • Transparent purchasing environment

Deadline Treaty

  • A deadline is set for all offers to be in by, unless otherwise stated
  • All buyers are usually eligible to submit an offer, both conditional and unconditional buyers
  • All offers remain undisclosed and confidential

By Negotiation

  • No specified price or price range
  • All buyers are eligible to submit an offer, both conditional and unconditional buyers can purchase
  • Settlement date is usually negotiable
  • Negotiations are held in private between the buyer and the vendor

Listed Price

  • Sale price is set by the vendor
  • All buyers are eligible to submit an offer, both conditional and unconditional buyers can purchase
  • Settlement date is usually negotiable
  • Negotiations are held in private between the buyer and the vendor

Making the offer

Before making any offer we recommend you seek legal advice. It’s important that you’re covered in case something goes wrong! Once you have legal advice and are ready to make an offer, our team can help make sure it goes smoothly. Contact us now to get started.