Three months ago we agreed to buy a 5-acre block with a house. We are still waiting to exchange contracts. There have been reasons for the delays, but it's likely that one of them is that the vendor is ambivalent about selling.
Yesterday we learnt that the vendor wants to make his sale and his purchase interdependent; i.e. if his purchase doesn't complete he doesn't have to complete the sale (our purchase) and vice versa. We said no. We've subsequently thought that we could have agreed provided the vendor agreed to pay us 10% of our purchase price if he used the clause to pull out, but that seems pretty futile because he probably couldn't pay it anyway.
Just wondering what the worldly wise would do in our shoes. And our hearts; sad to say we've both fallen deeply in love with this property, which is why we've held on for so long. Never fall in love with real estate!!
Ghoti (the unhomed)