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Conditional Agreement

A conditional agreement is a legally binding contract, but it is subject to conditions being satisfied.

Examples of conditions a purchaser may include in an offer are that have time to arrange finance and complete due dilligence. Conditions can also be included by the purchaser that require the seller to do something by a specified date - for example, that settlement will take place only if the windows are repaired or that rubbish around the section is removed.

Note: Purchasers' conditions do not usually prevent the sale taking place, but may allow the purchaser to delay settlement without penalty or claim damages if the conditions are not met in time.

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