Selling guide
Sale by tender: a NZ homeowner’s guide
Tender is one of the most popular property sales methods in NZ.
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AI summary
A sale by tender is a property sales method where buyers submit confidential written offers by a specific deadline. This creates a competitive environment that can drive a higher sale price, as buyers don't know what others have bid.
Unlike auctions, you can accept conditional offers and have five working days to consider all bids. You retain the flexibility to negotiate with a preferred buyer or decline all offers. This method is private and ideal for unique properties without clear comparable sales.
What does it mean to sell a property by tender?
You'll receive tender offers in sealed envelopes.
What’s the difference between a tender sale and a deadline sale
Tender sales can lead to higher sales prices.
Advantages of sale by tender
1. Opportunity for a higher selling price
2. Time to think
3. Buyer flexibility
4. Ideal for unique properties
5. Privacy
Disadvantages of selling your home by tender
1. Risk of lower offers
2. Seller uncertainty
3. Risk of buyers working together
4. Marketing costs
5. Buyer reluctance
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