Government
Vendorable helps government departments and agencies dispose of assets with greater transparency and control.
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Case study
Recover more efficiently
Insolvency practitioners prefer Vendorable when transacting real estate assets.
Vendorable helps practitioners test the market, preserve continuity, and move quickly when authority to sell is in place.
Efficiently engaging the market
Vendorable allows insolvency practitioners to bring real estate assets to market quickly and with confidence.
By inviting tenders for real estate services, practitioners and co-owners can obtain a market view on appraisals and costs before deciding how to proceed with a transaction.
Vendorable also accommodates the timing issues that arise in insolvent estates, allowing practitioners to go to market, step back, and return when the time is right to execute the transaction.
Example case study
A bankruptcy trustee requested initial proposals to assess the equity position of a property in a bankrupt estate.
Those initial submissions were then presented in court as part of an application to sell the property, where the co-owner was a contentious party.
After the legal process was completed, the trustee, with authority to sell, appointed the agent electronically through the platform.
The property then proceeded to sale and was sold.
Outcomes
- A successful recovery process was maintained over 12 months with continuity of process supported by the platform.
- More than 36 submissions were received throughout the process.
- Agents surrounding the property produced a solid range of proposals.
- Starting commissions were reduced by 1% from the beginning of the tender process to the end.
- The property sold within the appraisal range, and within 3% of the upper price estimate.
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