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 confidential sales method where buyers submit their best offer by a set deadline. As the seller, you have complete control—you are not obligated to accept any offer and can negotiate with your preferred buyer after the tender closes.
This process creates competition, which can drive up the price, and allows for conditional offers, attracting a wider range of buyers. Unlike a deadline sale, tenders usually require a deposit with each offer.
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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