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How to sell a house by tender

By The Lodge Real Estate Team on 2017-10-05

tender guide.jpgWhen deciding on a method to sell your home, it's important to choose the option that is right for your situation. While tenders aren't very common in the current market in Hamilton, they serve a useful purpose to certain vendors.

What is a tender?

A real estate tender is method of selling a property through the process of private and confidential offers made by a set deadline, especially where multiple owners may be involved. 

Some of the reasons to choose a tender are:

  • Sense of Urgency: The tender deadline sets a finite selling period and creates a sense of urgency amongst potential customers.
  • Buyer Competition: A tender creates the conditions for customer competition - which can lead to a premium price.
  • Confidentiality: The result of a tender is private and confidential.
  • Time to Consider: You have a five 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 client to be more flexible with the terms and conditions of the sale e.g. You choose the possession date.
  • 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 potential customers.
  • Feedback: Your salesperson will provide regular market feedback to assist you in establishing the selling range of your property.
  • Preferential Online Ranking: Properties for sale by tender or auction, along with those meeting our “promotion” criteria, appear ahead of others in our website search results.

We recommend:

An appropriate marketing programme to ensure all potential customers in your target market know about your property before the Tender deadline. If you want to sell before the tender date contact your salesperson to discuss further.

Recommend reading: Selling a House 101 (online guide)

Thinking of selling? 

Try our interactive Home Seller's Calculator to see how much it costs to prepare a house for sale.

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