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Auction or private treaty?

Selling a business or commercial property can be difficult and complicated. Whether to sell by auction or private treaty is an important business decision that must be made.  Whether you choose a private treaty or an auction is a commercial decision but our Conveyancing Lawyers can assist you in the preparation of contracts and advise you of the benefits and disadvantages of both.

A private treaty sale is a sale between a vendor and a purchaser with or without the intervention of an agent. The terms and price for the sale may be negotiated privately between the parties, often with the help of their respective Commercial Lawyers and the agent.

An auction is quite a different process. Here the vendor will usually engage an agent, who is also a licensed auctioneer, to conduct a sale by public auction. A contract will be prepared for inspection prior to the auction. A lowest reserve price will usually be set by the vendor and the highest price above this is usually accepted by the auctioneer on auction day.

At Navado Lawyers and Solicitors, we have over a decade of experience assisting in the sale of a diverse range of commercial and industrial properties and businesses. We are able to guide and assist you in the commercial, tax and other legal aspects of your sale. Contact our office on (02) 9233 4048 and arrange an appointment with one of our experienced Solicitors today.

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