Going unconditional

Gone unconditional means the property is now 100% going to be yours on the settlement day. All auctions are unconditional, and all tenders / negotiated sales become unconditional on both parties signature. Congratulations! The hard part is over.

Pay the deposit

Almost all real estate agencies will expect a 10% cash deposit to be payable to their trust account immediately. In some situations, you can get a pre-auction waiver to deposit a smaller amount, or you can organise a bridging loan from your bank to pay this deposit if you are operating with a <10% deposit. Make sure you speak to your bank before the big day so your online limits are set to transfer the high amounts that will be expected.

Meet the conditions of sale (if still conditional)

If the offer was subject to finance / legal / builders, organise these immediately.

Tell your lawyer

Your lawyer will be very involved from here on, tell your lawyer, and give your agent the details of your lawyer who will work with them. Your lawyer will be contacted by the agent, provided a copy of the purchase agreement, and will work alongside the vendor’s lawyers to get the property ready for you, for settlement. Refer to legal.

Organise Insurance

As soon as you leave the building, organise insurance. It doesn’t really matter which insurance company you go with, but get a certificate of cover immediately, commencing on the date of settlement. This ensures you are fully insured and will be a condition of bank lending. Refer to Insurance section.

Take a deep breath

You've done it! Take a deep breath and go for a walk!