What is Sale by Tender?

What is Sale by Tender?

13 January 2014

Sale by Tender Explained

Sale by Tender is an attractive alternative to the tradition method of selling a house (known as Sale by Private Treaty). Your home is listed for sale with a guide price. Offers are submitted as sealed bids that are opened on a set date, when you choose which to accept.

When is Sale by Tender the best way to sell a house?

Sale by Tender works best when you are selling in an area with high demand, you want more certainty about when offers for the house will be made or if work is needed on the property.

Is Sale by Tender Safe?

Anyone who submits an offer must be able to demonstrate that they can afford to proceed with the purchase within the agreed dates.

Potential purchasers also have to declare their situation; whether they are a First Time Buyer or if they have property to sell. If they are going to buy with a mortgage, they also have to declare which lender has given them an Agreement in Principle.

Will my house sell for the amount I want?

Yes, in Janary to March 2014 we achieved an average of 99.37*% of the guide prices set on property we sold by tender.

Am I committed to always accepting the highest bid?

No. You can reserve the right not to accept the highest bid or even any of the bids made on the house.

How Sale by Tender works with Cubitt & West

You can find an example of a Sale by Tender on our website here.

To search for property using our site search, click the More Options tab underneath the search box above and select ‘Sale By Tender’.

Why is Cubitt & West best for Sale By Tender?

  1. Your property is listed on our website and branches just like any other property. The Tender Pack includes everything a buyer needs to complete and submit the tender to your local branch.
  2. We will organise Open House days when buyers can view the property. These can be by appointment only if you prefer.
  3. Our formal process for receiving and opening bids ensures fairness. Bids are received in unmarked sealed envelopes. Any identifying information disqualifies the bid. A receipt will be given for bids delivered by hand. 
  4. You can still take advantage of the extra services we offer including floor plans, professional photography and brochures. Extra charges may apply but you can be sure your property will make the very best impression.
  5. We have a proven track record with achieving an overall average of 99.37*% of the guide prices in January to March 2014.

Costs:

You currently pay as little as £150 + VAT (£180) with our special offer.

 

*99.37% of guide price achieved from Arun Estates ‘Sale By Tender’ property sold in January to March 2014

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