My Conditional Offer Has Been Accepted
Congratulations! Your conditional offer has been accepted. Now begins the work of ensuring you are wanting to go ahead with the property purchase – checking you can get finance, doing your due diligence etc.
Organising all the things required to
Only your lawyer can contact the vendor to confirm if a condition is satisfied or withdraw your offer based on a condition being satisfied, so communication with your lawyer during this period is vital. There can be a lot of things to organise, and different parties to coordinate as you complete the process of satisfying conditions, so it pays to begin as soon as possible and have a clear idea of all the things you need to do.
When the final condition has been satisfied, is usually when the agreement is considered to be “unconditional”.
Simply click through the different stages listed below and you’ll find answers to frequently asked questions, guides to what you need to do and explanations for what your lawyer will be doing on your behalf.
FAQ regarding conditions
Who confirms conditions are satisfied or unsatisfied?
Only your lawyer can confirm a condition is satisfied or unsatisfied. This cannot be done directly with the vendor or by the real estate agent. Going through anyone but your lawyer will not be legally binding and the vendor could cancel the contract, or you could be required to fulfil the agreement.
What happens if I can’t get everything organised on time?
If you can’t meet the requirements to satisfy a condition (i.e your bank requires more time to satisfy the finance condition), you need to let us know as soon as possible. We can contact the vendor’s solicitor and request an extension. Granting an extension is at the sole discretion of the vendor, they are under no obligation to allow the extension, but may choose to do so.
When does the agreement go unconditional?
Generally the agreement goes unconditional when the last condition is satisfied. There are some exceptions to this. Your lawyer will discuss this with you when you let them know the final condition is satisfied.
