Private treaty sales see the agent prepare marketing details and advertise the property for sale alongside an asking price. Interested buyers then view the property and make an offer to buy it if they wish.
If an offer is acceptable to the seller, the sale proceeds on a ‘subject to contract’ basis until exchange of contracts. In a scenario where more than one buyer is interested in the property, the seller can request ‘best and final’ offers.
Most homes in the UK are sold via private treaty.