What does it mean for a contract to be “unconditional”?

A contract becomes unconditional when all the conditions of the contract have been met. This means that finance has been approved and all other conditions on the contract, such as building or termite inspection reports have been completed.

This is a key milestone in the settlement process. Once the contract is unconditional, you’re well on your way to completing settlement.

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FAQ

How are rates and taxes adjusted at settlement?

All local authority rates, Water Corporation rates, strata levies and land tax (outgoings) for the current year will be apportioned between the buyer and……