"BEST Customer Service in Conveyancing" Award Winner for 2022 & 2023 (Word Of Mouth)

Talk to a Lawyer
1800 532 326
Call & Talk To A Lawyer (FREE consult)
1800 532 326

What is the difference between a sale by private treaty to a sale by auction?

A sale by private treaty is no different to asking for and accepting private offers to purchase the property. It is a common form of sale where any potential buyers can make offers to you at any time, you can consider each as they are made and determine if you have obtained the best offer. If you accepted an offer under private treaty and have followed through to sign the contract, you will not be able to easily walk away from the contract once it is fully formed. If you have allowed the buyer to negotiate conditional clauses into the contract (e.g.: conditional on finance), only the buyer would be able to walk away from the contract on those conditional clauses unless they do not give notice in time under those clauses. You will be limited to your rights to exit the contract once it is signed. 

A sale by auction is another common method of selling a property, where your agent will advertise to as many potential buyers as possible and ask that they attend the auction to bid for the property. The property will be sold to the highest bidder at the auction, if their bid is higher than the reserve price that you have set. When determining whether to sell your property by private offer or by auction, you will have to consider the market trend and the general interest in your area. If there are many interested buyers in the area, then it may be advantageous to opt for sale by auction. You should discuss with your real estate agent for further advice.

Get Your Quote Now
Enter Your Details Below and We’ll Calculate Your Conveyancing Fees in 30 seconds
Contract Review
drafting
Contract Drafting
Buying Conveyancing
Selling Conveyancing
Transferring Property
SSL Green Logo
SSL Security & Privacy Assured

Lead Legal Services Pty Ltd (ABN 86 640 514 558)
Proud to be a registered conveyancing law firm.

Member of Queensland Law SocietyPEXA Members Badge

Our Recent Reviews

Judith Williams Avatar
Judith Williams
23 Nov 2023
Great company to deal with during my purchase, Erica Gruen (who was my paralegal) especially. Erica made the process easy to understand and answered all my questions (of which, there were many!).
read more
Fate Avatar
Fate
15 Nov 2023
Happy with the service, although it wasn't always straight forward. Everything ok in the end - and that's what's important.
read more
Chiran Attanayaka Avatar
Chiran Attanayaka
15 Nov 2023
Very professional service, every time my solicitor went on leave the other one emailed me and took over the file, kept sending important reminders, continuously followed up with the sellers solicitor, bank etc. Great friendly service.
read more
See More
lead conveyancing logo footer
Brisbane
Suite 5, Level 18, 324 Queen Street, Brisbane QLD 4000 Australia
Melbourne
Level 2, Suite 9, 454 Collins St, Melbourne VIC 3000, Australia
Sydney
Level 36, Governor Phillip Tower, 1 Farrer Pl, Sydney NSW 2000, Australia

Liability limited by a scheme approved under Professional Standards Legislation