Expressions of Interest explained
What is a sale by Expressions of Interest (EOI)?
An Expression of Interest (EOI) campaign is a sale process whereby prospective buyers are invited to submit their highest & best offer in writing to purchase a particular property, on/or before a nominated closing date & time. The offer submitted must be on a Contract of Sale and will include the terms of their offer (i.e. the buyers name/s, price, deposit, proposed settlement etc).
All offers need to be submitted to the selling agent, in the prescribed format, on/or before the nominated closing date & time of The Expressions of Interest (EOI) campaign.
Any offers that have been submitted will then be presented to the vendor for consideration. Importantly, offers will not be disclosed to other buyers, only to the vendor.
The vendor will then select which offer to accept or will treat with the buyer, in the first instance, who has made the best offer.
If you have any questions about the Expressions of Interest (EOI) Sale process or any other method of sale, please contact your local Nelson Alexander agent.