UNDERSTANDING THE DIFFERENT METHODS OF BUYING REAL ESTATE 

Buying your first home or investment property can feel overwhelming, but with guidance from a professional real estate agent, the process becomes simple and stress-free. At One Agency Coastwide, we help buyers navigate the property buying process and understand the best method of sale to suit their needs.

In Australia, there are four main methods of buying property: private treaty, auction, tender, and expressions of interest. Each state has different rules and regulations, so it’s important to consult a trusted real estate professional if you’re unsure about the specific requirements in your area.

Private Treaty (Private Sale)

A private treaty property sale gives both buyers and sellers flexibility to negotiate price and conditions. Properties are listed on the market, and prospective buyers can make offers through the listing agent. There’s no strict deadline, but properties in high-demand areas can sell quickly.

Once your offer is accepted, there is typically a cooling-off period to complete due diligence, including arranging home loan finance, and pest and building inspections. Working with a One Agency Coastwide agent ensures you are fully informed and confident in your purchase.

Auction Property Sales

Buying a property at auction requires preparation and strategy. Auctions are popular in many areas, and they can be a great way to secure a property for sale at a competitive price. Key tips include:

• Understand the auction bidding process and set a clear maximum limit.

• Avoid personal bidding wars and have your deposit funds ready.

• Pre-auction offers can sometimes be submitted through your real estate agent.

Properties sold at auction do not have a cooling-off period, so all inspections and finance arrangements must be completed beforehand. Many auctions have a reserve price, and if the property is passed in, negotiation may still be possible with the seller.

Tender and Expressions of Interest

These methods are typically used for high-end or unique properties. Both require submitting a single written offer, which is considered by the seller via their real estate agent.

• Tender: Submit a proposal in response to the seller’s disclosed tender price by a set deadline. Properties are usually sold to the highest bidder.

• Expression of Interest: Offers are submitted before a deadline, and the property price may not be advertised. The property is generally sold to the highest offer received.

The express sale method allows sellers to market a property without a set price, attracting serious buyers and creating an efficient sales process.

Whether you are looking to buy, sell, or lease real estate, the One Agency Coastwide team provides expert guidance, professional advice, and a smooth experience from start to finish.

Adele Andrews 0439 663 066

Marcus Bramham 0439 488 736