Melbourne is, with some justification, known as the auction capital of the world. But that doesn’t mean that an auction is our automatic recommendation.
We would be inclined to recommend a PRIVATE SALE, if:
- You can’t face large numbers of people inspecting your property.
- You are in no hurry.
- You have a desire to keep the sale relatively low-key.
In the absence of these factors, we recommend an AUCTION, for several powerful reasons:
- The selling period has a fixed time span, which precipitates a definite result.
- The publicity and timing of an auction frequently stimulate PRIOR OFFERS. The pressure is on the prospective purchaser, not you.
- The successful bidder at an auction enters into a binding unconditional contract on the spot, with the terms and conditions previously approved by you. There is no opportunity to “cool off” without forfeiting a substantial deposit to you.
- A property such as yours will attract genuine buyers and is in a desirable location therefore it is the competition between them that so often drives the price up. This is the main reason for the popularity of auctions in inner suburban Melbourne.