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The states have a very different procedure then us. In America you can walk away from your mortgage and give the home to the bank. In Australia, the bank or mortgage insurer will chase you for the balance + whatever penalty rates apply. As I said, this is a common occurrence and typically...

Ahh. Ok. This is a common situation. For example, someone owes $450,000 on their home yet it’s only worth $400,000. It’s not really a “condition”. I think this has been explained the wrong way. The vendor could be tickled pink with your offer and more than willing to accept. It is the bank...

Ok, so basically you are being asked to sign a contract with this condition? That is a very rare condition. Personally I have never come across it. Talk about having your cake and eating too! It would be like if a buyer asked for a condition to have their .25% deposit refunded if their...