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Formal and informal tender
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Lizzy
Posts: 385 Forumite
Hi anyone know the difference between Formal and informal tender?
My friend has just lost a property from a formal tender bid. I do feel this is unfair as she had to have the property valued, surveyed and a mortgage decision in principal.
A dreadful waste of time and money. So how does and informal bid differ ? thanks.
Lizzy
My friend has just lost a property from a formal tender bid. I do feel this is unfair as she had to have the property valued, surveyed and a mortgage decision in principal.
A dreadful waste of time and money. So how does and informal bid differ ? thanks.
Lizzy
0
Comments
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I'm not 100% certain but I think a formal tender is made on a legal form drawn up by a solicitor & an informal tender is something you write up yourself.
If I'm wrong I'm sure someone more knowledgeable will put me right.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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