How to be successful with tender

[Bill Lionaire]

I am a newbie and was hoping someone can give me a few pointers on how to calculate a reasonable price to submit for a tender.

I am looking at a government owned property that used to be a childcare facility, zoned Country Living. The area is intended for a low density residential development and associated ancillary development. I am thinking of converting this property to a be used as a primary residence. The property is extremely close to other shops in the area. I know what the capital value is for the property. I also know what the median house price for this area is as well as the ave growth for the area.

How do I calculate a price for reasonable success? Any advice will be greatly appreciated!

Thx

Bill

 

[Jontxu]

Experienced Valuer

Your best bet would be to talk to a valuer that has got experience in this type of properties. Ring a couple of the “bigger” valuations firms and see how you go, maybe for a "small" fee they can help with working out the real value of the property (and get you the deal). I used to work for CBRE and I know they have a valuation arm there in Adelaide, have a chat to them and see how you go.

Happy Investing
Jon Salvador
www.headinghome.com.au
For investors … from investors

 

[Bill Lionaire]

Got the professionals

Jon

Thank you very much for the information. I contacted CBRE this morning.

Bill

 

[willair]

Bill, do a search for a poster with the name Dazzling he in into the Comm side of property, you may have a better understanding after reading his posts,about value and how to purchase under your terms..most are Gold..willair..

 

[landlubber]

Bill, I'm not a lover of tenders. At least with a gov. dept. there is some possibility it may be handled legit. But when they are handled by a REA I think the law should require sealed bids with a public opening at which all tenderers can attend...at the very least.

In terms of value, you will just have to use your best endeavours and maybe then "add a bit" if you really want the IP.

One tip I can give you ...whether it's govt. or private make sure you put your tender in LAST. Walk in the door a few minutes before closing time and lodge it immediately before the time. Why ? Lot's of people have "mates in the right place" if you get what I mean.

Cynical ..who me ?? You betcha ...whenever money is involved !!
LL

 

[boods99]

...another tip is to make your offer end in an unrounded figure...ie if you are willing to pay $435,000, you should offer $435,359 or something similar, as most people will always put in a bid with a rounded off number. Just something small, but it might win you the property!!
Good luck with it all!

Boods