Any legal types out there can tell me what this term means. We might be interested in and old property that is "for sale by private treaty”. Could someone explain?
Regards
Martin
Posted on: 05 September 2004 by Steve Bull
Posted on: 05 September 2004 by Mick P
You are right.
Private treaty is the same as a private deal.
In effect, Martins sees a house at a price and haggles and finally agrees a price.
He then employs a solicitor to do searches etc and one day is asked to exchange contracts and both parties are now commited by law. A few days later the deal is completed.
That is Private Treaty.
Regards
Mick
