Buying guide
Buying guide: What is a deadline sale?
What does a deadline sale mean in NZ real estate? Here’s how it works and what buyers need to know.
What you’ll learn:
What is a deadline sale?
With deadline sales, you can either make a conditional or an unconditional offer.
How does a deadline sale work?
Don’t skip due diligence
| Deadline sale | Tender sale | Auction | |||||
|---|---|---|---|---|---|---|---|
| Description | Description | Property is listed for a set period with a closing date, no fixed price. | Property is listed for a set period with a closing date, no fixed price. | All offers submitted by a set tender date. | All offers submitted by a set tender date. | Buyers bid publicly on auction day, highest bid over reserve wins. | Buyers bid publicly on auction day, highest bid over reserve wins. |
| When offers are considered | When offers are considered | As they arrive and/or at the deadline. | As they arrive and/or at the deadline. | At the deadline (or earlier if “unless sold prior”). | At the deadline (or earlier if “unless sold prior”). | On auction day only. | On auction day only. |
| Can sell prior? | Can sell prior? | Common - “unless sold prior” is typical. | Common - “unless sold prior” is typical. | Yes if listing says “unless sold prior.” Closed tenders don’t sell prior. | Yes if listing says “unless sold prior.” Closed tenders don’t sell prior. | Rare; some sellers may accept a strong pre-auction offer and bring auction forward. | Rare; some sellers may accept a strong pre-auction offer and bring auction forward. |
| Best for buyers when | Best for buyers when | You need a bit more flexibility (conditions/negotiation) than an auction allows. | You need a bit more flexibility (conditions/negotiation) than an auction allows. | You can prep early, set a ceiling, and submit a clean offer. | You can prep early, set a ceiling, and submit a clean offer. | You’re auction-savvy with finance ready and clear walk-away rules. | You’re auction-savvy with finance ready and clear walk-away rules. |
| Best for sellers when | Best for sellers when | You want urgency with flexibility to accept a strong early offer. | You want urgency with flexibility to accept a strong early offer. | You want strong, considered offers and flexibility to choose more than just the top dollar. | You want strong, considered offers and flexibility to choose more than just the top dollar. | You expect intense competition. | You expect intense competition. |
Tips: How to win a deadline sale
Want to boost your chances? Keep these strategies in mind:
Don’t drag your feet, but don’t be rushed into a decision you’ll regret. View the property more than once, explore the neighbourhood, and complete your due diligence before putting in an offer.
Let the agent know if you’re serious. They’ll notify you if another buyer makes an early move, giving you time to respond.
Have all your ducks in a row. With finance, reports, and a lawyer in place, you’ll be able to submit quickly and confidently.
In a multi-offer deadline sale, the seller isn’t always swayed by the highest price. Fewer conditions, shorter settlement dates, or an unconditional offer can sometimes win the day.
Want to find deadline sale properties on Trade Me?
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