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.

More FAQs

FAQ

What is the discharge of mortgage fee?

If there is a mortgage registered on the title of the property you are selling, you are responsible for discharging the mortgage at settlement……

What is the PEXA fee?

As of 1 December 2018, all eligible settlements must be completed through PEXA (Property Exchange Australia), Australia’s national online system providing for the electronic……