What is an unconditional contract?

Unconditional is usually the time when we are past the point of no return.

What it means is that all the conditions on the contract have been met.

Now whilst there is no such thing as a ‘normal’ contract what we will try to do is stick to the most common conditions which are: deposit amount, finance approval, and building and pest approval.

So what happens is the buyer sets out to satisfy these conditions in the early period after an accepted offer, and if they are satisfied their solicitor lets the sellers’ solicitor know and that’s how we get to an unconditional .

Unconditional is also the last big milestone (don’t get me wrong you are still going to have a lot of little things to do and organise) but it’s the last big milestone before settlement date.

And it’s pretty much the time to exhale and take a second, so if you make it to unconditional, congrats you are on the home stretch.

You may also be interested in this article about what you can negotiate in a Queensland sales contract.

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