What's the Actual Difference?
A conditional offer includes clauses that let you cancel the agreement if certain checks don't stack up — finance, a building report, or the LIM, for example. An unconditional offer has none of these; the moment the seller accepts, you're legally committed to buying at the agreed price, no matter what you find out afterwards.
Conditional Offer
Unconditional Offer
The Most Common Conditions
Finance
Your mortgage needs to be formally approved, not just pre-approved in principle.
Building inspection
A builder's report needs to come back satisfactory.
LIM
The council's Land Information Memorandum needs to be reviewed and satisfactory.
Valuation
A registered valuation needs to meet or exceed the purchase price, if your lender requires one.
Solicitor's approval
Your lawyer confirms the agreement and title are in order.
Only go unconditional if you've already completed your due diligence and have confirmed, unconditional finance — going unconditional to win a competitive bidding situation is a high-risk strategy if anything is still outstanding.
Quick Summary
- Conditional: you can cancel if a condition isn't met, and get your deposit back.
- Unconditional: binding immediately — no safety net.
- Common conditions: finance, building report, LIM, valuation, solicitor's approval.