The scenario is just a hypothetical, so I wouldn't get too hung up on whether farms are interchangeable or not. I wasn't suggesting that you contract on a farm that you 'weren't very happy with', but rather that you settled for the best thing available to you at a time when you wanted/needed to buy. In the scenario I suggested, you (the buyer) wouldn't enter into a contract knowing there is something better AVAILABLE. The 'something better' is not available at the time you enter the contract. That's the hypothetical scenario.
One completely valid way this scenario could happen is that another buyer outbids you for the farm you really loved. Determined to buy and buy now, you go with your second choice, which is nice and meets your needs but not the one you would love to have purchased. You enter into a contract on the second property, believing it is what is available to you that best meets your immediate needs.
The deal with the buyer of the 'dream farm' falls through, and your realtor lets you know it's still on the market. Your financing hasn't been approved yet, and your contract allows you to back out.
Again, what would you do? I don't see that as a far-fetched scenario, and I'm just wondering if you think about this hypothetically whether you would back out or continue.
