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What is the difference between sale by auction and sale by private treaty?

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Sale by Auction – The process of selling a property by this method occurs in public with all interested parties gathered in one place for the auction.

Private Treaty – This process entails an agent listing a property and advertising it at an agreed price between the agent and the seller. Offers are then put in and prices negotiated. The purchaser and seller can agree to the terms of the sale before the sale is closed.

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