28 Minerva Road Manifold Heights sold prior to auction today after being in the one family for 20+ years to a local family renting in the area just 250 meters away and it was a great result for everyone involved. My motto with auction has always been, do what ever is best for the Vendor.
I always like to ensure when contemplating cancelling an auction and selling a property prior to, that we’ve dotted every I and crossed every T. Ensuring the buyers offer will be unconditional just like it would be if we were selling an auction day. That means making sure we’ve had the building inspections done in advance (and sharing with anyone else that might be interested) to maximise competition, getting finance approval in writing, and obviously give everyone else the chance to submit an offer. And lastly bringing the auction date forward to the day of the offer closing to ensure auction terms apply so its fair for all.
How the buyer wins – They have the peace of mind knowing they had a budget in mind and they stuck to it. They don’t need to be on display on auction day, and importantly to them, they’ve had time to breathe and come up with their own price and plan.
How the seller wins – There is no pressure of setting a reserve, no fear of it passing on the day, and If all of the other buyer feedback is communicated clearly and often they know when the right situation presents itself.
Real estate sales including auctions aren’t a one size fits all. If you’re thinking of buying, selling, leasing or referring a friend and you’d like some advice, please feel free to reach out. We’d love to help.