This week in the A – Z of Conveyancing, we’ll go through the commonly used terms in relation to conveyancing, looking at the letter U.


When contracts are exchanged under a cooling off period and the cooling off period expires, the Contract for Sale becomes unconditional and binding on both parties. When contracts are exchanged with a Section 66W certificate waiving the purchaser’s right to a cooling off period, the contracts are binding and unconditional from the date of exchange.

Under offer

This applies when a vendor accepts an offer from a prospective purchaser. Contracts are then completed with the details of the parties and the price which has been offered. Contracts are not binding until they have been signed and exchanged.

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