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selling house by tender, but received no bids
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I offered on 8 places and always the EA came back and said there had been other higher bids and yet the places continued to be marketed weeks later...
Sale by tender either accepts or rejects your offer, they don't ask you to increase it...
I suggest people go see the property and make an offer less the fees...0 -
Is sale by tender offer is legally binding to vendor?
Say you made a low offer. No one else made any offer. Is the vendor now bound to sell you at that low price? What if they lie by saying they received higher bid even though when they did not?Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0 -
These deals are normally described as "informal tenders" to distinguish them from auctions. Offers made on sale by tender shouldn't normally be legally binding just like any other offer.0
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Is sale by tender offer is legally binding to vendor?
Say you made a low offer. No one else made any offer. Is the vendor now bound to sell you at that low price? What if they lie by saying they received higher bid even though when they did not?
The vendor can reject all offers and doesn't have to accept highest offer.0 -
I also wouldn't touch this method of selling with a bargepole! I have already visited one of the agents which is NOT using this method to show my support. I had a brief chat with them about how the contract works. Is the Agent working for the seller or the buyer? If I were buying and saw a property which I liked, I would put a note through the seller's door to express my interest but make it clear that I could not proceed due to their choice of agent/sale method.0
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I would put a note through the seller's door to express my interest but make it clear that I could not proceed due to their choice of agent/sale method.
So you would prefer they added the fees you would have to pay to the price of the house along with the increase in stamp duty and be happy to end up paying more than sale by tender?0
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