The right sale method gives your property a clear route to market and fits the decisions you are comfortable making. Start with the likely buyers, the available sales evidence, your timing and the preparation the property needs. A method creates a process; it cannot guarantee competition, a price or a sale.
An asking price helps buyers decide whether the property fits their budget. They may offer below, at or above it, and you can negotiate the price and other terms. There is usually no fixed campaign end date unless one is specified.
The starting figure needs careful thought. Compare relevant sales and competing properties, and agree when the response will be reviewed. This can suit owners who want a visible price position and buyers who need clarity before organising a visit or paying for reports.
The property is advertised without an asking price and interested buyers make offers based on their assessment of value. You can negotiate price, conditions and timing. The absence of a published figure does not remove the need for a supported appraisal or a purposeful campaign.
Ask how your salesperson will help suitable buyers understand the market context. If people cannot tell whether a property is within reach, some may pass it over. Review the quality of enquiry and feedback as the campaign develops.
A deadline sale invites offers by an advertised date. It provides a period for viewings and investigation and can accommodate conditional offers. The actual terms determine whether an offer can be considered before the deadline, so ask for that process to be explained and communicated clearly.
At the decision point, compare the whole offer: price, conditions, deposit and settlement. The highest figure may involve conditions or timing that do not suit your plans. Your lawyer should advise before you accept or counter an offer.
Buyers submit written tenders using the prescribed documents. These set out the closing arrangements, the period for consideration and the conditions that govern the process. Tenders can be conditional. Follow the actual documents rather than assuming that every tender works the same way.
You may accept, reject or negotiate in accordance with those terms. Ask your lawyer to explain the agreement and any changes before signing. A tender offers a structured way to consider proposals, but it does not mean the highest or any tender must be accepted.
An auction brings interested buyers together through public bidding. You set a confidential reserve, and a successful auction purchase is unconditional. Buyers therefore need time to arrange finance, investigate the property and understand the auction terms before bidding.
Discuss the likely buyer group, preparation period, marketing budget, deposit and settlement terms. For a coastal bach, additional buildings, title restrictions or insurance questions should be addressed early enough for buyers to investigate. Conditional buyers may be unable to bid, which belongs in the choice of method.
If a pre-auction offer arrives, your salesperson should explain the applicable process and your options. If bidding does not result in a sale, discuss negotiation with interested parties or a revised campaign. Our separate buyer auction guide explains preparation from the other side of the transaction.
Ask your salesperson to explain why the recommendation fits this property, how buyers will be followed up, when you will receive reports and what the next step will be if it does not sell. If you live away from Whitianga, agree how decisions and signatures will be handled and how much notice you need.
Read the Real Estate Authority’s independent explanation of sale methods. For the campaign itself, see marketing your property and receiving an offer.
Arrange a property appraisal or call 07 866 2190 to talk with Ray White Whitianga at 22 Monk Street. You can also meet the sales team and choose the person you would like to work with.