A conditional offer is an offer which is placed by a purchaser with conditions associated to it such as:

• Finance – the granting of formal finance approval from a financial institution
• Pest and Building inspection – an inspection of the property by a licenced professional to ensure a satisfactory pest and building report is completed
• Sale of another property – some purchasers may need to wait for their current home to sell before purchasing another

An Unconditional offer is an offer made with no conditions that will affect the purchase of the property. Unconditional offers are often more appealing to a Vendor as there are less variables that may affect the sale.

Winning bids at property auctions are deemed unconditional, unless the purchaser has made a previous arrangement with the vendor and auctioneer prior to the auction commencement.