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
Selling your home by sale by tender involves buyers submitting confidential, legally binding offers with a deposit by a set deadline.
This method offers sellers significant flexibility. You have five working days to review all bids and can negotiate with a preferred buyer, but you aren't obligated to accept any offer.
Key benefits include creating competition and attracting conditional buyers. Downsides are the risk of low offers, no guaranteed sale, and potentially higher upfront 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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