Sale by private agreement

The sale by private agreement or by mutual agreement is the most common form of sale. The sale of a book in a bookstore, selling fruits and vegetables at the market are sales by private agreement. The essential condition for the sale by private agreement is the freedom that exists between the offer and the demand. Both parties are free to reach an agreement and to enter into a contract under the terms and conditions they want.

In real estate matters, a private sale may be subject to negotiations and counter-offers that do not alter the voluntariness of the sale. It can be made through a broker and it will usually be executed by a notarized deed.