What is the difference between a Deadline Sale & Tender?

Sent in by Barbara from Orewa

When marketing by Deadline Sale and Tender all offers remain confidential between the buyer and the seller.  A Tender cannot be sold before the tender date, offers must be on a tender form and accompanied by a 10% deposit, and must remain valid for 5 working days from the close of tenders.

With a Deadline Sale none of these things apply – offers can be made (and accepted) at any time, they are made on a normal sale and purchase agreement form, and can be withdrawn at any time prior to the acceptance by the vendor.  There is no requirement to attach a deposit to the offer. 

If the vendor receives an acceptable offer prior to the deadline date this moves the deadline date forward to close within two working days (similar to a pre-auction offer).  All interest parties are notified, the marketing is updated with the new deadline date and potential purchasers have the opportunity to put in their best offer for the property.

Got a question?  Contact Anita Dobson via email or Facebook! As seen in this week’s Real Estate Outlook.

Disclaimer: All opinions expressed by Anita Dobson in this article are solely Dobson’s opinions and not necessarily the opinions of Harcourts Tandem Realty Ltd.  You should consider seeking advice from your own financial or investment advisor.