For a buyer, what is the main advantage of buying by private treaty rather than at auction?
Correct Answer
B) Buyers have more time to arrange finance and conduct due diligence.
Private treaty lets a buyer make an offer subject to finance, a building inspection or other conditions, and gives time for due diligence. Auction contracts are unconditional and carry no cooling-off right, so buyers must arrange finance and inspections before bidding. Settlement after an auction follows ordinary timeframes; what is immediate is the unconditional contract and the deposit, not settlement.
Why This Is the Correct Answer
Private treaty lets buyers make conditional offers and take time to arrange finance and inspections. At auction the contract is unconditional, so that work must be done before bidding.
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