You could..... just as with any other type of sale .... fail to settle. If you have only put down 1k, then there is a much higher risk with respect to trying to recover costs etc from you.
Cheers,
The Y-man
No need for a bank cheque - personal cheque is fine. If you need a few days to clear funds, just tell the agent not to cash it until xxxday.
Cheers,
The Y-man