What is an Unconditional Sale?

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What is an Unconditional Sale?

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A. This is a term given to a property that upon acceptance of an offer, the buyer shall pay a 10% deposit, subject to a minimum of £3000 being part payment of the purchase price. The buyer is then legally bound to buy and the vendor is legally bound to sell the property. Exchange of contracts takes place at this time. The conditions of sale require a full legal completion within 28 days following exchange of contracts.

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