Buying guide
Buying by tender in NZ: What it means and how to win
What ‘for sale by tender’ really means for Kiwi buyers
AI summary
Buying a house by tender is a sealed-bid process where you submit a confidential, written offer by a deadline. The seller reviews all bids at once, and the highest price doesn't always win; favourable conditions are also crucial.
To improve your chances of winning:
- Complete due diligence like building and LIM reports upfront.
- Limit conditions to make your offer more attractive.
- Offer your best price, using odd numbers to stand out.
Remember to get legal advice, as your offer is legally binding if accepted.
What does ‘for sale by tender’ mean in NZ?
How it works:
Step-by-step: how to buy a house by tender
1. Register your interest with the agent
Make sure to register your interest in the property with the agent.
2. Do your due diligence
3. Submit your tender offer correctly
4. What happens after you submit an offer
You will submit your tender offer to the seller's estate agent.
Can there be negotiation after a tender?
How to win a tender in NZ: some secrets to success
Don’t be put off by crowds
Offer your best price
Remember your budget when making or negotiating your offer.
Limit conditions
Use odd numbers
Want to find properties for sale by tender?
- Head to Trade Me Property
- Enter your preferred location and property features, then hit the big blue Search button.
- On the results page, click Refine and scroll down to Sales method.
- Select Tender to see only properties being sold by tender.
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