After attending countless auctions and speaking to buyers and sellers we have noticed one key mistake that auctions do not take into account (Apart from the excessive fees charged to the buyer and seller… Look through your contract on your “Sell for Free” option).
The Main issue is that there is normally a person who ends up buying it who would have been prepared to pay more than what they actually got the property for. At Aycliffe Homes we have found an exciting way to overcome this. We offer a service called “Sale by Tender” described as a “silent auction”.
The property is marketed for sale by tender either without a price or with a price guide as well as a deadline for the offers. … When you sell a property by tender, the seller will accept tenders from prospective buyers and consider these offers on the date of the specified deadline. This means that the buyers all put their best and final offers forward by a specified date. The highest offer takes the property providing it meets your reserve price. (You always have the option to revisit this.)
Once the deadline hits and the buyer with the highest offer is accepted, we take a non-refundable deposit from them, they then have 28 days to exchange contracts. If they try to change their offer price, don’t complete within the deadline or walk away their deposit is lost and you as the seller will get half the deposit. This gives you the speed and security of auction but with the option to get a higher price than you might under auction conditions.