The Time Certain Seller
The Time Certain Seller desires to receive the greatest amount of proceeds possible provided that the property is sold by a specific date. The instruction to the listing broker might be: “Sell my house for as much as you can but it must be sold within twelve months.” The strategy for selling such a property often involves aggressive price reductions until the property is sold.
The Minimum Price Seller
The Minimum Price Seller desires that the property be sold as soon as possible provided that a minimum amount of proceeds are received from the sale. The instruction to the broker might be: “Sell my condo as fast as you can but I must receive at least $1 million in proceeds from the sale.” The strategy calls for a great deal of marketing and patience as the sale may require multiple years in a resort market.
Depending on market conditions, it is not unusual for a sellers to initially be a Minimum Price Seller and evolve to a Time Certain Seller.