- The vendor sets the formal conditions for a tender but a purchaser may add conditions of their own, for consideration.
- Like an auction, a tender gives the vendor complete control over the sale of the property. The vendor's price is not revealed and buyers are identified.
- A tender is an effective method of drawing buyers out, especially in a less buoyant market, so that the highest price is achieved.
- Tender marketing ensures the highest profile for the property.
- Marketing is time specific. Allow a minimum of three to four weeks to present the property to its best advantage.
- Marketing is carefully planned and the advertising programme costed in advance.
- Unlike an auction, both parties may negotiate the final sale and purchase agreement.
