When Does a Contract Become Unconditional in QLD? Dates, Notices and Deadlines
When does a contract become unconditional in QLD? It happens when every condition in the contract has been satisfied or waived, usually once you have given the seller notice on the finance and building and pest conditions by their dates.[1] From that moment you can no longer end the contract under those conditions, and you are committed to settle.
This guide is about that moment: what “unconditional” means, how the condition dates lead to it, how to ask for more time, and what happens if a date is missed. It follows the standard REIQ/QLS residential contract. For the earlier five-day window, see our guide to the cooling-off period in QLD, and for the rest of the document, our guide to the contract of sale in QLD.
Key takeaways
- A contract is unconditional once every condition has been satisfied or waived.
- For each condition you must give the seller written notice by 5pm on its date.
- If you have not given notice by then, the seller may end the contract.
- You have no right to extend a condition date on your own; the seller must agree.
- An auction contract is usually unconditional from the fall of the hammer.
What “unconditional” means
A conditional contract is binding, but gives you a way out if a condition is not met. In the standard contract the main conditions are finance (approval of your loan on terms satisfactory to you) and building and pest (written reports on terms satisfactory to you).[1] Other conditions can be added as special conditions, such as the sale of your current home, and they only protect you if they are written into the contract when you sign.[2]
Once all of those conditions are dealt with, there is no condition left to rely on, and the contract is unconditional. From then on you must settle on the settlement date. Our guide to the settlement process in QLD explains what happens next.
Unconditional is not the same as the end of the cooling-off period. The statutory cooling-off period runs for 5 business days from the day you receive the contract signed by both parties, and lets you end the contract for any reason, at a cost of up to 0.25% of the price.[3] A contract can come out of cooling-off and still be conditional for weeks.
How a contract goes unconditional
Each condition in the standard contract works the same way. You must take reasonable steps to satisfy it, then give the seller notice that it has been satisfied or waived, or that it has not been and you are ending the contract.[1] Notices under the contract must be in writing.[1] The contract goes unconditional when the last of those notices says “satisfied” or “waived”.
- Building and pest. You get the reports, read them, and if you are satisfied, your solicitor gives notice by 5pm on the inspection date. Our guide to building and pest inspections in Queensland covers what to look for.
- Finance. Your lender gives formal approval, you check the terms, and your solicitor gives notice by 5pm on the finance date.
- Any special conditions. Each is dealt with as its own wording says.
- Confirmation. Ask your solicitor to confirm in writing that the contract is unconditional, and from what date.
Only give a “satisfied” notice when you are. Formal loan approval is not the same as pre-approval, and a building report with items you have not yet priced is not a report you are satisfied with.
An example timeline
Say a contract is dated Monday 2 November 2026 with an inspection date of Monday 9 November and a finance date of Monday 16 November. The cooling-off period ends at 5pm on Friday 6 November.[3] Notice on building and pest is due by 5pm on 9 November, and on finance by 5pm on 16 November.[1] If both notices say “satisfied”, the contract is unconditional on 16 November, or earlier if both are given sooner.
If a finance or inspection date falls on a day that is not a business day, it moves to the next business day, and under the standard contract 27 to 31 December are not business days.[1] Your contract’s dates are whatever was negotiated; read them from the reference schedule.
Waiving means giving up a condition that is there for your benefit, so the contract proceeds whether or not it is met.[1] Buyers sometimes waive early to strengthen their position, for example waiving building and pest after a good report but before the date, or offering on shorter dates in the first place. In one Caboolture purchase, a tight conditional contract and a fast settlement helped our client secure a unit for $517,500 although the selling agent had a competing $525,000 offer.
The risk is the same as with any unconditional contract: if your loan later falls through, you are still bound to settle. Never waive finance until your lender’s formal approval is in hand and its conditions are ones you can meet.
Lenders and inspectors do run late. The standard contract gives the buyer no right to extend a finance or inspection date on their own; the seller would have to agree.[1] Ask early, through your solicitor, well before the date, and have the agreement recorded in writing before 5pm on the day.
A seller can say no, or agree only in exchange for something, such as a shorter settlement. If they will not agree and you are not satisfied, your choice on the day is between ending the contract under the condition or waiving it and going ahead. Talk it through with your solicitor before 5pm.
If you have not given notice by 5pm on the finance date or the inspection date, the seller may end the contract by notice to you, and the contract says this is the seller’s only remedy for the missing notice.[1] You keep the right to give your notice until the seller does end it, but you have lost control of the timing.[1]
If the contract ends without default by you, the standard contract gives the deposit back to you.[1] Because termination is the seller’s only remedy for a missing condition notice, a contract ended that way should not cost you the deposit, but confirm it with your solicitor. A seller may also choose to keep the contract alive and wait for your notice.
Two things do not wait for the contract to go unconditional. The property is at your risk from 5pm on the first business day after the contract date, so insure it from then.[1] And transfer duty is charged on the contract: if your solicitor lodges as a self assessor, they lodge within 30 days of the liability date, usually the contract date, and the duty is paid within 14 days after that.[4] Our guide to stamp duty in Queensland explains the rates and concessions, and our property purchase calculator estimates the amount.
Once unconditional, a buyer who fails to settle is in default, and the seller may end the contract, keep the deposit and claim damages.[1] There are still a few ways out that do not depend on the conditions. The main one for buyers is the seller disclosure scheme: if the seller did not give you the disclosure statement and certificates before you signed, or they were inaccurate or incomplete on a material issue, you may be able to end the contract at any time up to settlement.[5]
At auction there is no conditional stage at all. The terms of sale usually require an unconditional bid, and the successful bidder must settle even if the house does not pass inspections or they cannot afford it.[6]
IPS works only for buyers, never sellers. We negotiate the price and terms, including the condition dates, and work with your broker, building and pest inspector and solicitor through to settlement. See our buyer’s agent services for how that works.
For the conditional period, that means setting dates your lender and inspector can actually meet, booking the inspection the day the contract is signed, chasing the loan approval, and making sure your solicitor has everything in time to give notice before 5pm. If more time is needed, we raise it with the selling agent early.
A Queensland contract goes unconditional when every condition has been satisfied or waived, by written notices given by 5pm on each date.[1] Before then, your conditions protect you; after it, you must settle. Book inspections and chase finance from day one, never waive a condition you are not sure about, and ask for more time early rather than at 4pm on the day.
This article is general information only, current at October 2026. It describes the standard REIQ/QLS contract, not your contract, and is not legal or financial advice. Your solicitor or conveyancer should give and check every notice under your contract.
If you would like help setting realistic dates and getting your purchase to unconditional on time, book a time with Tim Allen.
- REIQ/QLS — Contract for the Sale and Purchase of Residential Real Estate, First Edition (copy published by Redland City Council)
- Queensland Government — Contract of sale for buying a home (updated 23 July 2025)
- Queensland Legislation — Property Occupations Act 2014, part 7 (reprint current from 1 August 2025)
- Queensland Revenue Office — Transfer duty
- Queensland Government — Seller disclosure scheme
- Queensland Government — Buying property at auction
What does unconditional mean on a house contract?
It means every condition in the contract, such as finance and building and pest, has been satisfied or waived, so neither side can end the contract under a condition. The buyer is committed to settle on the settlement date, and the seller is committed to sell. Until then, a buyer can end the contract under a condition that has not been met, on the terms the contract sets.
How long after signing does a contract go unconditional in Queensland?
There is no fixed period. It depends on the dates written into your contract for finance, building and pest and any special conditions, and on when you give notice. A contract goes unconditional when the last condition is satisfied or waived, which can be on or before its date. Read the dates in the reference schedule and diarise each one.
Can I pull out of a contract once it is unconditional?
Generally not without consequences. A buyer who fails to settle an unconditional contract is in default, and the seller may end it, keep the deposit and claim damages. The main exception is the seller disclosure scheme: if the seller did not give the disclosure documents before you signed, or they were materially wrong, you may be able to end the contract up to settlement. Get legal advice first.
Who tells the seller the contract is unconditional?
Usually your solicitor or conveyancer, by giving the seller or the seller’s agent a written notice on each condition saying it has been satisfied or waived. Notices under the standard contract must be in writing. Once the last one is given, ask your solicitor to confirm in writing that the contract is unconditional and from which date.
Is an auction contract unconditional?
Usually yes. The terms of sale at a Queensland auction normally require an unconditional bid, so there is no finance or building and pest condition, and there is no cooling-off period. The Queensland Government notes the successful bidder must settle even if the house does not pass inspections. Do your inspections, valuation and finance before auction day.
Do I need insurance before the contract is unconditional?
Yes. Under the standard Queensland contract the property is at your risk from 5pm on the first business day after the contract date, whether or not the contract has gone unconditional. Arrange building insurance from then, and check whether your lender requires it as a condition of the loan.