Competitive bidding allows buyers to bid on a property over a 28 day period, we typically carry out block viewings and set a start price and a reserve price on the property. It could be more suited to people who value the following points most:
Homeowners can set their own terms
Less likely to fall through than other methods as the buyer places a non-refundable deposit at the start of the legal process.
Allows homeowners to achieve maximum market value
Security of a completion within 56 days of listing the property.
Private treaty is the "usual" approach to selling property.
It could be more suited to people who value the following points most:
Being in control of the sales process timeframe,
Less urgency, making the process more flexible for homeowners,
Less intimidating than competitive bidding.