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
Sale by tender is a property sales method where buyers submit confidential, binding offers by a set deadline. This competitive process can help achieve a higher price and is ideal for unique properties without a clear market value.
Sellers have flexibility, with no obligation to accept any bid and a five-day period to negotiate. Tenders also allow for conditional offers, widening the buyer pool. Key risks include the potential for lower-than-expected offers and higher initial 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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