Sale by Private Treaty Meaning
A sale by private treaty means that the sellers set an asking price when putting their property on the market, which is solely a guide.
A prospective buyer then submits an offer reflecting how much they would be willing and able to pay for the property.
If another buyer is also interested in it, then they submit a higher offer – which the first or further bidders may counteroffer.
The value of the property is established through this bidding process.
It ends when the seller instructs their agent to accept an offer – at which time a booking deposit is paid, the property is marked sale agreed, and the solicitors for both parties are notified of the terms of agreement so that they can start the legal conveyancing process.
There is a difference between a private treaty sale and auction sale
If you are thinking of selling and living in South County Dublin, why not avail of our free valuation service below?
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