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To me, in the ACT, a "private sale" is one where there are no agents involved, and i, as a purchaser, is buying a house directly off the vendor - with no middleman/hungry agents in the way. If not, I would be buying "through an agent". We also use "private treaty sale" and it is the same...

A 10% deposit upon exchange is normal and a common requirment. For all i know, it may even appear as that on the contract template. However this amount can be negotiated by you though and it is up to the vendor and/or their solicitor to agree to the deposit amount. If they are insisting on...