Public Auction
Properties with the following characteristics will be highly recommended for the auction method:
- in a high demand market
- likely to encourage competitive bidding between multiple buyers
- preferable to let the market determine the price rather than predetermining it prior to sale
- purchasers will easily limit their procrastination
- an unconditional sale is desired
- sticking to the market budget and generating a specific time frame
Private Sale
The private sale method, also called private treaty, is recommended for the properties:
- asking price is very clear and can be set as a guide
- are not unique and are quite easily comparable to other properties
- time is not essential in the sale equation