We are currently waiting for our land to title in the Warath estate in Mickleham but a few weeks ago it was valued and has come back 30k less than the developers asking price.
Has anyone else had this issue? Apparently there are 20-25 of us building in this estate and none of the valuations have come back near the purchase price. They are all below in a range of 30-60k
All the developer keeps asking is if we can put in more money to make up for the short fall which we can’t.
We have been told that because our contract is not subject to finance they can cancel it if they want to and keep our deposit which I’m not too sure is 100% true. Does anyone know about this?
Has anyone else been in this situation and if so what have you done?
Waratah estate - land under valued
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