Property For Sale By Tender
Property For Sale By Tender
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Listing a property for sale by tender is a process where buyers submit written offers to the agency before the specified deadline, the process is set out in the tender document.
Listing a property for sale by tender is a process where buyers submit written offers to the agency before the specified deadline, the process is set out in the tender document.
The tender deadline will set out how the offer is made and considered. Offers are submitted to the agency branch using a purchased official tender form, which usually includes price, and special terms and conditions. The tender documents are sealed in an envelope for secrecy and often include a deposit.
The tender deadline will set out how the offer is made and considered. Offers are submitted to the agency branch using a purchased official tender form, which usually includes price, and special terms and conditions. The tender documents are sealed in an envelope for secrecy and often include a deposit.
Is It Right For Me?
Is It Right For Me?
Sale by tender is usually reserved for high-end residential properties or unique properties with an indeterminable market value.
However, the sale by tender method is not restricted to these cases and can be used in any situation where a seller feels it would be beneficial.
A local agent with expertise in selling by tender can help determine whether this method is right for your particular situation. They will consider the following factors:
Property type
Location
Current property market
The vendor can accept a tender, or negotiate further. The 3-5 day time frame provides the vendor with time to consider the offers, make inquiries, and negotiate if necessary.
When the vendor accepts an offer, they will need to sign the sale and purchase agreement and the local agent will notify the successful party. The local agent will also need to contact the unsuccessful parties and return their deposits.
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Looking To Sell Your Real Estate?
Looking To Sell Your Real Estate?
Is Sale By Tender Suitable For You?
Is Sale By Tender Suitable For You?
We understand that choosing a method to sell your house can be difficult especially if this is your first time. If you are looking to sell your property, you should speak to a real estate agent about it. They’ll know about the market in your area as well as how much attention your property is likely to attract.
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