When buying a home via a private treaty, there are some key questions that buyers should ask.

These may include:-

  • Why are the vendors selling ? e.g. divorce, deceased estate sale, relocation to retirement village or nursing home, family reasons, moving interstate or intrastate.
  • What would suit the vendors circumstances e.g. quick sale and settlement, how will the agent be taking offers (recent examples are that agents are accepting offers via new Platforms, which appears to becoming more the norm. Read the fine print prior to any submission).
  • Be wary of “boardroom auctions”, whereby the Agent has “numerous offers on the table” and seeks you to increase your Offer to “outbid” the “others”.
  • Request a full copy of the Contract of sale and section 32 to be available so you may on-forward to your legal representative to review prior to any offer placed forward.
  • Do your research on the property :- the neighbourhood , the local area and is there any negativity such as main road, power lines, water catchments, bush fire prone etc.