Private Treaty

What is a private treaty sale?

A private treaty sale is where the seller sets the price they want for their property; generally after research into the market and discussions with their agent to determine the most realistic outcome. They then start negotiating with potential buyers via their agent.

A private treaty process generally follows the following process:

Price is set and marketed.

Inspections held by prospective purchasers.

Offer is made by the buyer

Negotiation between parties to reach an agreed price

Contracts are issued by real estate agents or solicitors and exchanged.

Buyers have the benefit of a 5 Business day cooling off period.

Contract conditions are undertaken – for example, valuation, finance, building and pest inspections, subject to sale.

Once conditions are met the contract becomes unconditional and settles at the agreed time.