Council bought the 1,200 site at Comberton Grange in 1985 and has negotiated with the Shaolin Order since 2006.
Council's deputy Mayor Gareth Ward says at this stage the Shaolin Order has expressed its intention to continue with the purchase.
"We will continue to pursue the recommendation given from the property steering committee which was that if payment wasn't received on the 17th [of December] that we would write to the Shaolin Order and ask whether they were still interested," he said.
"My understanding is that they are continuing to pursue payment and that we will have an outcome in January."
Councillor Ward says the Department of Planning is yet to hand down its final determination on the temple, which is a condition of the contract.