What If I Want To Buy A Set Sale Property?

The best opportunity to buy top properties is within the first 30 days on the market.  Certainly some properties stay on the market for months but they are the ones which are either overpriced, badly presented or both.  ‘SET SALE®’  aims to end that by properly marketing the property and allowing all potential buyers every opportunity to negotiate.

Unlike an auction, a ‘Buyer Inquiry Range’ is provided as a general guide between where you should negotiate. 

When a property is marketed with the traditional fixed price, sellers often ask about 10% above the market price for a number of reasons. With some it is because they have a fear of underselling. With others, they may have an over-inflated view of what their home is worth. At the very least, all sellers will want a buffer to allow for any negotiation.

On the other hand, the pool of buyers looking for a property in a suburb and a range react entirely differently. They form a triangle with very few above the market price. Most will look 10 - 15% lower than what they will finally pay because when they find their dream home, even if it is above what they intended to spend originally, they will buy it.

This services neither the sellers nor the buyers. Sellers’ homes stay on the market for a long time and sell for much less than they anticipated. On the other hand, buyers miss out on seeing those properties therefore miss out on the opportunity to buy their dream home.
As a result, a new system was invented. This involves a “Buyer Inquiry Range®” and this is how it works:

Instead of setting a fixed price which eliminates at least two thirds of the buyers, a range is set to attract buyers looking within that range. In other words, if you are looking in this range, you should come and look at this property and maybe you will be able to successfully negotiate it.

What Do I Do?   You have two options you may take.

Option 1

After deciding realistically what you are prepared to pay for the property, you may place an offer at any time prior to the ‘SET SALE®’ date. If you wish to make an offer please discuss it with our representative who will immediately present it to the vendors.

Option 2

If you are not quite certain, you may register your interest and you will be contacted when an offer is received or two days prior to the final date to see if you wish to firm up a formal offer.

In other words, the owner will consider all offers prior to and for a ‘consideration period’ after the ‘SET SALE®’ date, however may choose to accept an offer at any time.

We have been instructed by the vendor to invite all buyers looking in this range to inspect the property as they may be interested. The vendor will consider all offers made within the range and especially the ones above value.

How Your Offer Will Be Handled

We work with integrity for buyers and vendors equally. Our promise to you is that we will never reveal your offer to another buyer and give them an unfair advantage over you. We simply ask you to offer what you are prepared to pay to secure the property.

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