Best way to handle multiple cash buyers, selling off-market

[Greg K.]

So I have several savvy developers interested in my property. Naturally, each one once to stop by and see it. Of course, this time is also used as an opportunity to gain rapport and do the salesman magic. However I'm on a realistic time constraint. Should I hold an off-market, FSBO 'open house' for my fixer-upper property? And then live, in person auction? Of course, none of them will like it, but I want to give everyone a chance to make an offer. Any advice or established practices for handling such matters would be much appreciated

[Seth Ferguson]

@Greg K. Auction isn't the norm in North America...if we were in Australia, that would be a different story. Plus, if you're not experienced with multiple offers, you're best not to have it happen live-action.

Each party should have time to view the property. Let them know how many other parties are interested, and have a deadline to submit offers. Then work those offers for the best price and terms.