Tender Sale

What is a tender sale?

A tender sale is a method of selling a property which involves potential buyers submitting private bids for a property. Each bid is typically sealed and not revealed to other buyers. 

Advantages of a tender sale 

The main advantage of a tender sale is that buyers typically put in higher offers as they don't know what others are bidding. This mystery encourages them to submit higher offers in order to increase their chances of winning the bid. 

Selling by tender can be considered a more relaxed method for the seller compared to other selling methods like auctions. In a tender sale, the seller isn't under immediate pressure to make decisions, as they have more time to consider offers before accepting one. 

How long does a tender sale last? 

The duration of a tender sale can vary depending on the seller's preferences and market conditions. In many cases, it can last for several weeks to allow potential buyers enough time to prepare and submit their bids.