Page 7 - Wilson Property RCI buying a home

Types of sales

/ Private Sale
» A private sale is when a property is listed on the market for a set price and
offers are invited from interested purchasers. Vendors of private sales
have the ability to vary the price whilst it is on the market and have the
opportunity to consider each individual offer from potential purchasers.
» Private sales don’t have an end date, which takes pressure off both parties
involved in the buying and selling process.

/ Off Market

» Generally properties are sold on the open market, however ‘off market’ sales
at Wilson Property are becoming very common. Our agents work closely
with potential buyers and assist them to purchase off-market properties by
matching their interest and requirements with a confident offer.
» A positive of buying off market is securing a property with little to no
competition.

/ Auction
» A property for sale by Auction has a reserve price set with the Vendor (the
minimum price they will sell their property for) and the agent conducts the
auction on the specified date. This is often popular in Melbourne and City
areas, not so common in Traralgon.

/ Expression of Interest or EOI

» An expression of interest is similar to a private sale
however a formal written offer must be submitted for
the property by a specific date.

7 / TYPES OF SALES