Private Treaty and Auctions
Posted on Feb 19, 2008
in Financial & Investment Info
Private treaty - A private treaty sale is where the vendor sets the asking price and waits for someone who wants to buy.
Making an offer
If you have your finances in order, on finding the right property you are in a position to express your interest and make an offer if you think the price is too high. The agent will discuss your offer with the seller. You may be asked to pay an initial deposit. This does not secure the property for you but shows you are serious. The property remains on the market usually until the contracts are exchanged.
Gazumping occurs when the owner verbally agrees to a price and subsequently accepts another offer from a second buyer prior to committing to a…
Making an offer
If you have your finances in order, on finding the right property you are in a position to express your interest and make an offer if you think the price is too high. The agent will discuss your offer with the seller. You may be asked to pay an initial deposit. This does not secure the property for you but shows you are serious. The property remains on the market usually until the contracts are exchanged.
Gazumping occurs when the owner verbally agrees to a price and subsequently accepts another offer from a second buyer prior to committing to a…
