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 popular NZ property sales method where buyers submit confidential, legally binding offers with a deposit by a set deadline. This competitive process can help achieve a higher price, especially for unique properties that are difficult to value.
Unlike auctions, sellers are not obligated to accept any offer and have five days to review bids and negotiate. This allows for conditional offers, attracting a wider buyer pool. However, this method can involve higher marketing costs and uncertainty for sellers.
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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