# Tender, Negotiation, and Deadline

Tenders, Negotiations, and Deadlines are all very similar, so let's talk through them.

One thing to note - the real estate agent is bound by code to present all offers to the vendor. So don't take their suggestion, you can do your own thing.

## Tender

The tender process requires you to submit a blind offer, against other potential buyers. All offers are jointly presented,  and the vendor and agent will determine the best offer to select, and you will be informed if your offer is successful.&#x20;

* Tender offers are opened after a tender deadline.
* The vendor can change the deadline.
* You are legally bound to your offer.
* You are required to provide a deposit with your offer, which is kept if your offer is accepted.
* The vendor can accept, negotiate, or decline any of the tenders.

Read more here: <https://www.settled.govt.nz/buying-a-home/making-an-offer/buying-by-tender/>

## Negotiation

Negotiation works like any other negotiation in real life. You sit down with the agent who acts as the intermediary, and negotiate a price. You can pretty much negotiate anything and everything. Some things you can add as a buyer:

* Subject to finance, legal, and insurance approvals.
* Subject to satisfactory building inspection.
* A lower deposit amount.
* A different settlement date.

With a negotiation, you can withdraw your offer at any time, and no deposit is required, this is differnet to the tender process where you are making a pre-commitment.&#x20;

There can be a multi-offer scenario where you are one of several people offering to buy the house. In this situation you need to ensure you present the best foot forward.

## Deadline Sale

To be honest this just means the house wants to be sold by x date. It's pretty much the same as negotiation though. Think of it this way - if the house isn't sold or offers made, it's not like they're going to suddenly not sell the house. Don't stress too much about time.

Read more here: <https://www.settled.govt.nz/buying-a-home/making-an-offer/buying-by-deadline/>

## Multi-offer

A multi offer situation can only occur if the agency has more than one written offer for a property. This is typically seen post-auction pass-ins, and in price by negotiation situations. This works very similarly to price by negotiation.

Read more here: <https://www.settled.govt.nz/buying-a-home/making-an-offer/understanding-a-multi-offer-process/>

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