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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Our plain-English guide Buy your dream home without the drama has practical advice to help you complete the purchase of your new home.