For Sale by Informal Tender

[fid]

When something's for sale by the aforementioned, would it be usual to go in at, above, or below the asking price? ...and what form does the informal tender actually take?

[john75]

If I am selling I advise people to go in above the asking price.

If I am buying it is the other way round.

[Pigeon]

fid said:

what form does the informal tender actually take?

A dinghy with jeans on.

[DJFish]

Pigeon said:

fid said: what form does the informal tender actually take? A dinghy with jeans on.

Haha!! me hearties!

>> Edited by DJFish on Monday 9th May 19:05

[gtr-gaz]

I hate informal tenders!

It's not an asking price, it's a guide price and normally undervalued.

Chances are it will go for more, depending on interest.
I bid on a house 2 years ago. The guide price was £150k. We put in an offer for £155k but were not successful. According to the Land Registry web site it went for £186k!

Even the Location, Location team of Phil and Kirsty have to put in an offer way over the guide price to secure a property.

[maxf]

Informal tender generally means that something was for sale 'normally' (ie sale by private treaty) but interest has exceeded expectations and offers are coming in thick & fast - hence it is informally (ie they didnt originally mean to) tendered. Which all-in-all would suggest you need to go in above the original asking price.

[simpo two]

Why don't they just have an auction?

[fid]

The closing date's 12 noon on Wednesday, and as far as I know it's only been on the market since late last week, so a quick way of getting the best sale price I guess. Oh weeeell.