The Sellers Guide to Tenders

Is selling by tender right for your property or situation?

What is a real estate tender?

A real estate tender is method of selling a property through the process of private and confidential offers made by a set deadline.

The benefits of selling by tender

Sense of Urgency: The tender deadline sets a finite selling period and creates a sense of urgency amongst buyers.Buyer Competition: A tender can create the conditions for buyer competition – and multiple bidding can lead to a premium price.Confidentiality: The result of a tender is private and confidential.Time to Consider: You have a three working day irrevocable period in which to decide which offer to accept. This can be important if there are a number of parties involved in the decision.Flexibility: A tender allows you, the seller, to be more flexible with the terms and conditions of the sale e.g. You choose the possession date.Level Playing Field: Because the property cannot be sold before the closing date, all interested parties are competing on a level playing field.No Price Limitations: By marketing without a price you are never limited by an asking price that is too high or too low, so you can attract a wider range of buyers.Feedback: Your salesperson will provide regular market feedback to assist you in establishing the selling range of your property.

We Recommend:

That the Tender process is supported by an appropriate marketing programme to create a high profile and attract as many buyers as possible before the Tender closes.
Open Homes scheduled throughout the marketing period will allow all potential buyers easy access.

Understanding the tender process

Offers will be submitted on the standard Tender Document, which will be provided to all Tenderers by a Whangamata Real Estate salesperson, and deposited at the specified closing location by the tender deadline. Whangamata Real Estate will hold all offers secure until the set deadline.

All tenders are opened at the same time in the presence of a Whangamata Real Estate Manager or Principal. Although you reserve the right to negotiate with any Tenderer, in most cases clients reach a decision on the Tender day. If you accept an offer by a Tenderer, you are legally bound by the terms and conditions of the tender document.

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