Selling a property by tender is particularly effective for properties that have unique features that may make it hard to judge their worth, or what people are prepared to pay for them. Most people are familiar with the ins and outs of these sales methods but are not so acquainted with the tender process which is also appearing more regularly in real estate listings. Sales by negotiation, or with a listed indication of vendor price expectation, are becoming more popular. As the market has slowed and in some areas cooled, auction clearance rates have been eroded and vendors are increasingly looking at alternative ways to sell their properties. Offering flexibility and more consideration, here’s what you need to know about the tender processĪ few years ago nearly all the properties listed in prime New Zealand markets were sold by the auction process. As the New Zealand property market has changed people are looking at alternative ways to buy and sell properties.
