https://www.martincardno.co.nz/home daily 1.0 2026-01-26 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/61b784ea-d976-4b77-b00a-ac8afe940fdc/Screenshot+2024-08-15+at+10.55.56%E2%80%AFAM.png https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/625879f5-66fd-4127-adc9-04034c3a45ec/LLP_5704.jpg https://www.martincardno.co.nz/learn daily 0.75 2024-09-13 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/1634176094149-O09WZWVISVPJ073P9K4N/gentleman+researching.jpeg Learn https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/1634176798156-FX1489LQ7P3TLZR651SV/making+choices.jpg Learn https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/b3998d04-ce0d-4e2b-9ce9-4032cd068d02/Screenshot+2024-09-10+at+7.53.34%E2%80%AFAM.png Learn https://www.martincardno.co.nz/auction daily 0.75 2021-10-12 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/1634032787571-1VVSGHVRMH2HYKFZRR3N/Happy_couple.jpg Auction - What is a real estate auction? An auction is a method of selling or buying real estate, whereby interested parties bid on a property. The highest bid wins the property and the house is sold on the day. When you purchase real estate at auction the sale is unconditional and legally binding. Before the auction, buyers will need to be satisfied they have completed sufficient due diligence on the property e.g. Title search, LIM, builders reports, and the particulars and conditions of the auction. Along with your bank, your solicitor can approve these for you. If you are the final successful bidder then you are required to pay a 10% deposit on the day of the auction. Can I bid at auction if I have conditions? The short answer is no. Auctions are a cash-only method to buy and sell real estate. This means you should carry out all your due diligence before auction day and met all the requirements of your finance lender. However, in some circumstances, a change in the auction particulars and conditions can be made as long as it is approved before the day of the auction. An example of this may be a change in the settlement date or a reduced deposit, this is called a ‘variation to the contract’. How do I decide how much to pay? The auction process allows the market to firstly appreciate what the house has to offer and then determine what the price may be. We find many people are able to estimate reasonably accurately what a home is worth. They do this by drawing on their knowledge of the homes they have looked at in their particular price bracket. Your sales consultant will be able to provide you with recent sales statistics in the surrounding area as well as a guide price. You may also decide to get a valuation. How do I borrow money when I don’t know the exact price? Most lending institutions are familiar with all selling methods, including auctions. Once you have worked out the price you believe the property is worth, discuss this with your bank or mortgage broker. You will find they agree to lend you an approved amount, so you will know how high you can bid at an auction. What is a vendor bid? The auctioneer has the right to bid on behalf of the vendor to either start the auction or increase the bidding during the auction. The auctioneer will clearly disclose all vendor bids. Vendor bids are only allowed to be exercised up to the reserve price. Can I buy before auction day? If a property is listed with the words ‘unless sold prior’ then the owners may consider selling before the auction day. Any offer would need to be substantial enough to convince the sellers to end the marketing campaign early in order to sell prior to the auction. The offer will also need to be unconditional. If an acceptable pre-auction offer is accepted then the auction process is not stopped, it is simply brought forward. The auction will open at the accepted pre-auction price and be available for any interested parties who would like to bid. In some instances, bids can be placed that exceed the original offer and the property can be sold to a different buyer. In other instances, a pre-auction offer can be a quick way to acquire property with little competition. https://www.martincardno.co.nz/tender daily 0.75 2021-10-12 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/1634032624218-66O08C55EWVJ2KCK9F3V/gentleman+researching.jpeg Tender - What is a real estate tender? A tender is a method of selling or buying real estate, whereby interested parties make an offer on a property using tender documentation. A tender form will contain details such as the legal description, the chattels that are included with the purchase, the settlement date and the required deposit. A completed tender is placed in a sealed envelope and held securely in a tender box until the close of the tender. Can I submit a tender with conditions? Yes, you can. If you have just started looking at property, sometimes you need time to organise things. Some examples of a condition could be finance, insurance, a builders report, the sale of a house, or a valuation. An unconditional offer on the other hand is going to be more attractive to the owner of a property, so try to get your finance and other due diligence sorted before hand. We recommend you seek legal advice before entering into a binding contract. How do I decide how much to pay? Your sales consultant should be able to provide you with statistics of recent sales that are comparable to the property you are looking to buy. They will also be able to give you a price indication. We recommend putting in your best offer. Most people don’t like the thought of overpaying, and may offer less than they can afford. However, often they lose the opportunity to negotiate with the owner because someone else was prepared to offer more. Try considering this example: if you found out you missed out on a property by $5k - $10k, would you have been prepared to pay more? Or would you be happy to let the opportunity pass. Put your best offer forward. When will I hear back? In most situations a decision is made on the day, however, a vendor can have up to five (5) working days from the closing of the tender document to make a decision. Please consider this when submitting a tender. If a reasonable amount of time has passed and you have not found out if you are successful or not, feel free to contact the sales consultant. If your tender is accepted, you are legally bound by the terms and conditions set out in the tender documentation approved by the Auckland Law Society of New Zealand and REINZ. We recommend you seek legal advice before entering into a binding contract. https://www.martincardno.co.nz/deadline-sale daily 0.75 2021-10-12 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/1634032860648-XL9AV5KY400UW7BXH292/caring-for-elderly-parents+white.jpg Deadline Sale - What is a deadline sale? A Deadline Sale is similar to a Tender, except the rules are a bit looser. The rules of a deadline can vary depending on the Real Estate company you are working with, so be sure to discuss what the rules are with your sales consultant. Typically a property will be marketed with a date/deadline to submit offers. However, some deadlines can sell prior to the closing date, so be mindful of this. Tenders typically won't sell before the advertised date. A Deadline Sale can create confusion over when the end date is to make an offer. A buyer may submit an early offer, only to be forced to wait while the real estate consultant tries to secure additional offers. This can be offputting and stressful for the buyer. Most forms of marketing these days include a deadline in some form. The real estate industry finds providing a date to work towards ensures everyone is on the same page, allows enough time for due diligence, but also speeds up the decision-making process for potential buyers. Previously without some form of deadline, houses could sometimes stay on the market for months. Without a sense of urgency, buyers could continue to search the market for something better, or wait to see if the asking price was reduced. It is possible the reason deadline sales came about was sales consultants didn’t understand the Tender documentation, but still wanted to create urgency. What is the difference between a tender and a deadline? An offer using a Deadline Sale process is submitted on a Sale & Purchase Agreement. This is the most common contract used in New Zealand to purchase real estate. An offer by Tender is submitted using a Tender form supplied by the Auckland District Law Society. The particulars and conditions of the contract remain the same, except the Title Requisition clause has been removed. It is assumed that you have asked your solicitor to check the title before submitting an offer. A Tender document specifies that an offer must be accompanied by a 10% deposit. In my experience, this is very rarely the case. Nowadays the contract will state something to the effect '10% deposit is to be paid upon confirmation of the contract'. A tender document also states that any offer made must stay live for five (5) days from the close of tender. A deadline sale contract does not. This means a buyer can withdraw their offer at any point. Should I use a Deadline Sale to sell my property? A deadline sale is certainly a better choice than ‘BEO' or ‘By Negotiation’. These methods of sale can tell potential buyers you want too much for your property or you are not motivated enough to sell. Any experienced Sales Consultant will tell you that the words ‘By Negotiation’ will generally result in less enquiry than properties that are marketed by Tender, Auction or Deadline Sale. Accepting early offers It can be tempting to accept an early offer. However, without exposing your property to as many buyers as possible how will you know you are achieving the best possible price? If you do accept an early offer because your situation favours it, we strongly advise that you don't enter into a contract with conditions. Conditions have the potential to make an offer fall through. This could jeopardise the entire marketing campaign and can stigmatise a property in any market. Whilst Tender and Auction are not loved by buyers, these sales methods are commonplace in the sale and purchase of real estate these days. When run correctly tender and auction are the best way to achieve both a timely sale and a fair or premium price in the market. Should I buy through Deadline Sale? As a buyer, the most important thing to note is when the deadline will close. If you have a genuine interest in a property let the sales consultant know so you can be kept in the loop. You may feel tempted to put in an early offer to avoid competing with others. However, a number of owners are not mentally prepared to sell if you present an offer very early on in the process, even if the offer is significant. Owners need time to receive feedback - both positive and negative - on their property. They also need time to digest price feedback. What the market determines is a fair price could be very different from their initial expectations. https://www.martincardno.co.nz/about-us daily 0.75 2026-01-26 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/d7de1431-45ff-450c-a3df-b4b61e8b9622/Martin_Colour_jpg_1.jpg About Martin - Martin Cardno Real Estate is one of the biggest investments people make in life. Martin is here to make sure you have an enjoyable experience. In the last 23 years, Martin has sold real estate in Wellington, Auckland, and South East Asia. Martin has a sound knowledge of the local market and is ready and willing to share his expertise when it comes to marketing and negotiating the sale of your property to achieve the best possible result. Martin is experienced in all methods of sale, including auction, tender or deadline. But let’s discuss this, there is a lot to learn. Martin has bought and sold more than 15 properties personally. This means he has been on your side of the fence enough times to understand what you are going through. Martin will work harder than any other sales consultant in the marketplace. If you would like to be greeted by a friendly smile, and someone who has a lot of energy and integrity please give Martin a call today. YOUR LOCAL REAL ESTATE CONSULTANT DOING THE BUSINESS IN WELLINGTON. https://www.martincardno.co.nz/kind-words daily 0.75 2024-03-20 https://www.martincardno.co.nz/what-is-my-property-worth daily 0.75 2024-01-29 https://www.martincardno.co.nz/for-sale daily 0.75 2026-03-27 https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/e4733bd1-a584-49f7-98ca-ede163f42cd3/Screenshot+2024-11-21+at+7.59.07%E2%80%AFPM.png For Sale https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/dc870bf2-8d49-4ebe-9ec2-1a96b004db3e/04+-+Grays+Road+%28355%29+-+Twilights.jpg For Sale https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/6c05340e-003c-469c-a649-1625c5f1b576/Sundaysrealestate_DJI_20251117164547_0885_D+copy.jpg For Sale https://images.squarespace-cdn.com/content/v1/6164f7cf431110042cebd6f9/1fa53aa0-d697-422f-88fc-38a78407d5ed/Sundaysrealestate_DJI_20251212121003_0084_D+copy.jpg For Sale 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