CJ

We (as buyers) have signed a contract for the purchase of our first home. The Sellers were meant to sign the contract the next day but due to some finance issues cannot sign it for another 3-4 weeks. We asked for something in writing saying that they would sell it to us and take it off the market etc, so we could start with our inspections. They went through their solicitor (on the advice of the real estate agent) and came back with a "Put and Call Option" which has some ridiculous conditions such as if we defult (?? Not sure how we could) they can sue us or sell it to another party and if they don't get the same price as we were going to pay, we would have to give them the difference!!

This seems ridiculous to us. We are the ones who are doing them a favour by being patient and understanding to their situation. We will seek legal advice before signing this, but wondered if anyone else has come across this before? Can someone help us understand what is going on??