Why? They work really well for sellers! With no set price, you're not putting a ceiling on the potential sale amount.
As a buyer, where do you stand? This is one method where you'll need to put your best foot forward, and you've got a bit of time to think about it to ensure you do!
Confused about the process? Here's how they work...
A property advertised as a “Set Date Sale” or “End Date Sale”, or sometimes “Expressions of Interest”, means the property is being sold by tender process.
Basically, it means that if you want to purchase the property you have until the certain, specified date to submit a written formal offer or written expression of interest, to the selling agent.
After the specified date, unless sold prior, all offers will be shown to the seller and if your offer is accepted, then the property could be yours! If no offer is accepted, the seller will generally put the property back on the market and is not obliged to move forward with any of the tender offers presented.
Got a question about the selling or buying process?
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