Closed enrollment game rules
In a tender offer, candidates are given a fair chance by the seller and the broker to submit a bid before a set closing date. After closing, no new bids are accepted after which a buyer will be designated from the submitted bids.
The course of the process
The start of the process
The broker starts the process by creating a bid form.Â
After the viewing, you will receive the link to the bid form from the broker.
The bid form will always show the deadline and time remaining.
The Data Room
To be able to make a good offer, it is important to have all the relevant information. Most brokers therefore use our Dataroom.
Submitting an offer
In a bid, all applicants may submit offers until the closing time.
Filling out the form is a piece of cake, where necessary we are always there for you! Made a mistake? No problem, until closing time you can always delete your bid and submit a new one.
Your offer safely stored
To avoid interim price fixing, your bid is placed in a digital vault. No one can see the details of your bid until the closing date, including the broker.
Reviewing your bid
After the closing date has passed, the bid form will be deactivated and there will be no more opportunity to submit offers.
The seller and the broker then receive simultaneous insight from us into the details of your offer so they can discuss them.
Award process
The seller always retains the right of award. This means that the seller does not necessarily have to choose the candidate with the highest bid. In addition, the seller can also choose not to award the property to anyone.
Assigning the buyer
Fingers crossed, once the buyer is identified, you will receive the results immediately: are you the buyer, or not.
Finalized purchase
The sale is only really completed when both the seller(s) and buyer(s) have signed the purchase agreement.
The Bid Log
When the purchase is completely final, the bid log can be shared. Please note that this will not be shared until the cooling off period and any caveats have expired. You will receive an email from us when this date is known.
You can then find all submitted bids in the Bid Log.
Frequently asked questions
You may have to wait a while for a response to your bid. Therefore, after the closing time we always send an email to keep you informed about the rest of the process.
In some cases, the seller and broker may choose to change the method of sale in the interim.
Due to the change in game rules, we will automatically send you an email with the next steps.
No, the seller always retains the right of attribution. This means that other aspects can also weigh in when designating a buyer. For example, reservations or delivery preferences may also be decisive.
Yes, the seller always retains the right of award. This means that the seller may choose which candidate to award the property to, but also has the freedom not to award it to anyone. In that case, the tender can be reopened, or a new method of sale is initiated.