31 Aug Purchasers versus Purchasers rather than Purchasers versus Vendor
A great story about a house that was valued by a registered valuer at $2.995 million. This was the process that unfolded:
- 4 weeks tender process – no offers
- 6th week – an offer that was rejected at $2.5milion
- 7th – 15th week priced the property at $2.795 million – lots of interest but no offers
- At this point we had had 3 private 42 viewings through the open homes
- 16th week – decision was made to go to Auction
- 17th-18th week – We took property off the market for a 2 week rest
- 19th week – relaunch of property with staging & some new photos for the Auction
- 21st week received pre Auction offer at $2.450 million – rejected by vendors
- 21st week received pre Auction offer at $2.495 million – accepted by vendor and the auction was brought forward
- At this point 3 private viewings and 9 buyers through open homes since start of Auction campaign
- At Auction we had 84 bids with the property selling under the hammer for $2.915 million
This was a fantastic result for the vendors and it goes to show that purchasers bidding against each other is the best option if it can happen.
I have 4 buyers that missed out and are ready to purchase at this level, so if you are considering selling now or in the near future please call me to discuss.