| | Strategy is important when putting in a Tender. | | Tender strategy
Do your homework This applies as much to tenders as any other method of buying a home. With a tender, you may only get one chance to submit an offer, so you need to have a good idea of what the property is worth to you – and what you are willing to pay for it. Confirm your finance Talk to us to make sure that you will be able to finance any tender you submit and meet any conditions that may be required by the Bank. Minimise conditions When two bidders are offering a similar price, the seller is likely to favour the one with fewer conditions. That’s because there are fewer obstacles to complete. An unconditional offer will have even more appeal, but before you make an unconditional offer make sure you have done your homework first – for example, you may wish to get a Land Information Memorandum (LIM) report, valuation and/or building reports, and you may wish to consult your lawyer.
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