Summary
We were engaged to manage the sale of our clients’ family home. Our initial goal was to position the property to market asap as they had committed to buying another property. One of the key points we had to assess was if the property had any development potential as this could have a bearing on the properties worth. After consultation with a surveyor and architect we could determine the property didn’t have any development potential on the basis the frontage was to narrow. After interviewing and reviewing sales submissions from local agents we appointed an agent to act on behalf of our client. The property had a 4-week auction campaign. After 2 weeks, they received their first offer prior to auction. Our advice was to continue with the marketing program as the offer wasn’t compelling enough in our opinion. Continuing with the campaign, an offer was submitted from another potential buyer one week later. We then directed the agent to get the potential buyer to submit their best and final offer.
Key Points
We achieved an offer which exceeded our clients’ expectations and the property was sold prior to auction. It was a great relief for the owners due to time restraints.