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 set deadline. As the seller, you are not obligated to accept any bid and have five working days to review and negotiate.
This process can create competition and potentially achieve a higher price, while also allowing for conditional offers. It differs from a deadline sale as a deposit is required with the offer. Tenders are ideal for unique properties but can involve higher marketing costs.
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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