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
A sale by tender is a confidential process where buyers submit their best offer by a set deadline. This method creates competition that can drive up the price and is ideal for unique properties without clear comparable sales.
You have five working days to consider all offers, including conditional ones, and are not obligated to accept any bid. While it requires marketing investment, a tender provides flexibility and privacy that an auction does not, making it a popular choice for NZ homeowners.
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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