Recently lining up for an auction, to buy for an investor, having done my Due Diligence on a great 2 BR Murrumbeena apartment (with grass-facing patio), I was surprised get the call on Wednesday afternoon from the selling agent. After an acceptable offer from Sydney, it was now a Tender closing at 4PM Friday. Tenders are a one-shot offer used mainly in commercial real estate. It’s like making one bid at auction with plugs in your ears!
I duly had my client at the selling agent’s office in time to lodge sealed envelope offer with deposit, one of only 3 as it turned out. Well, we can second, after another buyers agent paid what the selling agent called “a big number!” I only hope the buyer was homebuyer as the price paid was uneconomic. Disappointing but sometimes the right result is to lose!