How does buying by private treaty work?

[Pandora]

I think it differs by state.
In Victoria you get the contract first, and you get a cooling off period unlike auctions. You also get the option of consulting a solicitor prior to making an offer and if you do then you forfeit your cooling off period
You also can negotiate the settlement period but if there are more than one party putting in offers and the vendor wants a longer settlement then you do this could come in to the decision on who to sell to esp if the offers are similarly priced

[Lulu]

You can always ask the RE what the seller wants in terms of short/long settlement. If it's worth it, maybe chuck in another $1k for a quick settlement.
Once the offer is accepted you pay your deposit and sign the contract that should be in the office. I sweat blood until I've signed - I wish I could remember more but the whole process usually has me semi-hysterical (behind my "I'm a fricken Real Estate Guru" facade that fools everyone).

[Lulu]

You can always ask the RE what the seller wants in terms of short/long settlement. If it's worth it, maybe chuck in another $1k for a quick settlement.
Once the offer is accepted you pay your deposit and sign the contract that should be in the office. I sweat blood until I've signed - I wish I could remember more but the whole process usually has me semi-hysterical (behind my "I'm a fricken Real Estate Guru" facade that fools everyone).