Selling by treaty or tender
Your agent will recommend a type of sale for your home. They will base this on:
- what type of home it is (such as house, apartment or townhouse)
- where it’s located
- how the property market is behaving
- how quickly you need the property sold.
Private sale treaty
This is the most common method. In a private sale treaty, you will:
- advertise your home and invite offers from prospective buyers
- negotiate the sale with a buyer, usually with the assistance of an agent
- sign a written contract with the buyer to complete the sale.
Sale by tender
In a sale by tender, you invite potential buyers to submit an offer (‘tender’) for your home.
You specify a closing date, after which you consider all the offers and either choose the best one or reject all of the offers.
This is an increasingly common way of selling.