Private Sale

A private sale is when the vendor has not listed through a registered real-estate agency, and has self-listed via Trademe Property or the like. This has considerable risk for both sides, but can be managed. The biggest issues I've found is the bank wanting significant due diligence as a result. The lawyers are generally fine as long the S&P is straight-forward.

In these situations, I'd caution you to conduct a lot of due diligence independently to make sure everything is good.

Overall, there's no real difference between a private sale and a sale by negotiation - you're just dealing directly with the vendor. Your lawyers will write up the same S&P, and you'll go through the same settlement process.