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There are 3 main ways to buy real estate in Australia
- Private treaty – when the vendor, or home owner sets the price they would like to sell their property for and their real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible.
- Auction – which is a public sale conducted by a licenced auctioneer. Properties are offered up for bid and if the reserve price is reached the property is sold to the highest bidder
- Tender and Expression of Interest are processes wherein you submit a single offer, usually accompanied by a 5 or 10 per cent deposit, and it is accepted or rejected by the vendor.