Property Services often sell surplus property or sites via Informal Tender. Bidders are asked to submit sealed bids, by a given date, against a set of bid criteria.
This method is widely used and is facilitated with advertising in the local and national media and the appropriate property press. Signboards are erected on the site/property and marketing particulars are distributed to an extensive mailing list.
The advantage of this method of disposal is to demonstrate transparency and prove that the asset has been fully exposed to the market.
Each bidder should bid on the same basis and all bids are opened at the same time and recorded. There is a set procedure for opening tenders to reduce the risk of fraud.
Here is a copy of a standard tender document detailing the criteria required when tendering for a Birmingham City Council asset: Invitation To Tender