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What is "Sale by tender"?
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The neighbouring flat I lived in was on sale by tender. It was owned by a widow who must have died (guessing in her 70s as moved out 6 years ago) and she had a daughter with a teenage son.
What benefits are to sell by tender in this situation? There is only 67 years left on the lease - I knew this as the lease started a month before I was born. Also the flat has many original fittings and no garage.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
I think sale by tender is EA - trying to compete with online agents..
85% of property is sold online via - right move or zoopla (or similar)..
so - if you go online you pay about £600 no % fee
How can an 'bricks and mortar' agent compete.. they can 'reduce the fee' to be competitive with the online agents (2 agents near me offered us this..) BUT i've noticed 'sale by tendor properties have not sold on date.. one was advertised as offers over 600.. then a week after the deadline it was offered as 550 - 600 .. its now SSTC.. but i'm guessing the buyer - has offered the value (- the 8k ish fees..)0
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