Sale By Tender – Another Way Of Selling Your Property Or Land

Selling property or land by tender is not new it is as much as a part of everyday selling as private treaty or public auction. In fact, the Scottish system of selling property is very much based on the sale by tender principle. In Sale by Tender we invite buyers to put forward their best and final offer in writing by specified date. We market your property the usual way, in other words by advertising on media and websites but the difference is, we require all offers to be received by a closing date, generally six weeks from the beginning of the process.

Selling this way does not suit all types of property, which is why we need your property to qualify to be considered. It might be that selling by tender is not the best way for you and if that is our professional opinion, we will tell you.

Tender is best suited to property and land where there is expected to be strong demand and a degree of rivalry between buyers. In these cases, the advantages of tender over auction are:

  • Bids can be compared in private
  • If necessary, the buyer can be selected
  • No price needs to be provided to potential buyers (though often in practice a guide price is given)

Properties that qualify generally fall into one of the following categories: Probate, unusual property, Development, Refurbishment, Investment or property where strong demand is expected.

In short, if your property has development potential or has existing planning permission for further development or if your property is in need of refurbishment or alternatively would be of interest to commercial or investment buyers, then it should qualify.

Qualification means you do not have to pay the selling fee, as property of this nature allows us to legitimately charge the purchaser the fee (normally 2% of the final selling price plus VAT). If the buyer is purchasing for commercial benefit we will contract that purchaser to sell any new or refurbished units through us, once the work has been completed.

'Sale by Sealed Tender (Best & Final)' requires offers by sealed bid to be received by a specified date. As a sales process it has a number of unique selling points as an alternative to private treaty or auction:

  • It has a final closing date. (Closing date to suit YOU!)
  • YOU the vendor set the reserve price and always have the right to accept or not accept any offer.
  • The PURCHASER pays the selling fee.
  • As it’s a best and final bid we, as agents, are obliged to reveal a guide price, therefore it is the person who wants it the most that truly determines the value.

We do charge an up front fee to you, the vendor which will be £99.00 + V.A.T. This covers the costs for the set up of the tender documentation, advertising and signage as required.

We would normally suggest a minimum of six weeks between launching the tender and the closing date as we feel this gives a potential purchaser enough time to make enquiries and if necessary arrange the finance to purchase.

Please note: The term ‘property’ for the purposes of this form can mean, house, bungalow, house in multiple occupation, apartment(s), land or development, amenity land, agricultural land or any other form of building including buildings with a commercial use.

To discuss whether your property qualifies for our Sale by Tender process please call Freephone: 0800 122 3636 or email us at salebytender@arrangeaviewing.com

If you believe Sale by Tender does not suit your purposes, please click here
to view our other selling options.