SHOULD YOU GO TO AUCTION OR PRIVATE SALE?

When selling a property, you have to make a lot of decisions, but one of the most important ones is about the method of sale; auction or private sale?

Often depicted on reality TV, auctions are a competitive, public process that can help drive up the selling price, while private sale is the more traditional, popular method. It’s where a property is listed with an asking price through an agent, who then markets the property and presents offers back to the seller.

Nelson Alexander Ivanhoe partner and auctioneer James Labiris says the decision about which method to go with should be made by the vendor and agent, in close collaboration, weighing up all pros and cons.

He breaks down everything sellers need to know about each method.

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