Property Sale Methods

Choose a method that fits the property

The sale method affects how interest is invited, when offers are considered and what information buyers need. It does not remove the need for preparation, accurate information or a clear written agreement. No single method is right for every property. Ask your agent to explain the proposed process, dates, costs and how offers will be handled.

Ray White Nelson is co-led by Paul Vining and Daniel Reed.

Auction

An auction sets a public date for bidding. Buyers should complete their investigations and understand the auction terms before bidding; a successful bid is generally unconditional. Ask how bidding will be run, what happens if the reserve is not reached and which costs apply.

Tender and deadline sale

A tender invites written offers by a stated closing time. The tender document sets out how and when offers are considered, including whether an offer can be accepted before the deadline. A deadline sale also has an advertised end date, but the seller may be able to consider an offer earlier if the advertised process allows it. Confirm what the listing says before you choose either method.

Negotiation

Sale by negotiation has no fixed end date. Offers are made on a written sale and purchase agreement, and the seller decides whether to accept an offer, negotiate or decline. If more than one offer is being considered, ask your agent to explain the multi-offer process and timing.

Ask your lawyer to review the agency agreement and any sale documents before you sign. The Real Estate Authority guide to tender, negotiation and deadline sales explains key process differences.

For a discussion about your property and sale options, contact Ray White Nelson on +64 (3) 544 8778 or nelson.nz@raywhite.com.