Warnies advice is very good ..and he covers it well .
Just be mindful , and I dont know what property you are looking at or what kind of interest it is generating ... But if I were the vendor , I would not sign with such conditions .
If I were the agent , ( not just an agents rep in the office ) , I would present the offer as covered by the act , but not push for the vendor to sign . I would consider the area and market conditions .
Just remember , each contract is simply an offer till you have acceptance , otherwise its worthless .
Offer / Consideration ( deposit ) / Acceptance ..
or you do not have a contract .
All depends on demand in the area ..just playing devils advocate , Warnies advice is very good in my view .