There are several methods of buying a property in South Australia. The most common methods include:

  • Private treaty: This is the most common method of buying a property in South Australia. It involves negotiating a sale price with the seller or their agent. Once an agreed price is reached, a contract of sale is drawn up and signed by both parties.

  • Auction: Properties can also be sold at auction in South Australia. An auction involves potential buyers bidding on the property in a public setting. The highest bidder wins the right to purchase the property, and the contract of sale is signed immediately after the auction.

  • Expression of Interest (EOI): An EOI is a method of buying a property that is becoming increasingly popular in South Australia. Potential buyers submit their interest in purchasing the property to the seller or their agent, along with any conditions of the sale. The seller then evaluates the EOIs and chooses the buyer they wish to negotiate with.

  • Off the plan: This method of buying a property is typically used for new developments or apartments that are yet to be built. Buyers purchase the property based on the plans and specifications provided by the developer.

It’s important to note that the process of buying a property can vary depending on the method used. It’s always a good idea to seek the advice of a conveyancer before proceeding with a property purchase to ensure that all legal obligations and requirements are met.

To find out more about each of these methods, we recommend you visit the Real Estate Institute of South Australia (REISA) here.

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