[WaylonKenning]

I think a tender is really a blind bid. A bunch of offers from different people (the tenders) are received before a deadline, and then the vendor views them all and chooses whatever one they like (which is probably the highest offer).

I've just bought a house, and it's been interesting to see the selling method change as the market goes from hot to cold - Auction, Tender, Deadline, Buyer Enquires Over, Asking price.