Im unaware what the unconditional stage means, the 5 day cooling off period passed about 5 weeks agao and the final settlement days was to be this Wednesday. Apparantly the woman who is buying is awaiting retirement funds to come through, maybe she should have organised a bridging loan or something.

Ok, have done a little more study now and mind you I am also a little more cautious as a result. I have just  read  some reports that state that the Australian property market is overvalued as much as 50%.  This is according to OECD reports and another guy buy the name of Daniel Denning (yank), although this guys "expose'" reads like some kind of dire exaggeration I am left feeling a little less confident in Australian residential property. Please  tell me I have nothing to worry about…please

Thanks guys,

I have managed to talk some sense into my mum (and myself). Turns out she has compiled quite a bit of personal debt, credit cards etc amounting to 30k that she wants to pay out as its causing her many sleepless nights.. After some further investigation I found that at her age she can access a small amount of her super (10% pa) so I have set up a little payment scheme for her to reduce this debt, including cancelling all of her credit cards, drawing 5% p/a off her super until these debts are payed. This way she can hang on to her family home and maybe in the future, as a retirement plan, even look at an investment property using her equity.

However, it's back to the drawing board for me. I'm now officially in the market looking for an investment property, preferably in the Bathurst area of NSW.

ps….a lesson to many, life insurance would have saved my mother a lot of heartache had my father had such a policy.