OCBA - Sale by private treaty

Sale by private treaty

A private treaty sale is when a house is offered for sale at a negotiated price. A private treaty sale may be conducted either by the vendor personally or through an agent. The normal practice is for the vendor to set a price, and you negotiate with them until a mutually agreeable price is reached. Unlike auction, the potential buyers do not know what others may be offering for the property.

A vendor who chooses to conduct a private sale themselves will be responsible for all aspects of the sale and all documentation required. Therefore, you will deal directly with the vendor. Some vendors choose to use a registered real estate agency to assist with advice and documents. The vendor shows the home and answers questions about the property, but the agency handles the negotiations, contract and arranges all of the legal documents right through to settlement.

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