Cancelling House and Land Package Contract

Hi all. Just wondering if anyone here has had experience of pulling out land and building contract? I desperately need advice. Thank you so much.

I suggest you might seek some legal advice. I have cancelled a build contract, however, we lost a bit of money on that (basically stuff which the builder had already done on that contract. However, we also reentered another build contract immediately with them as we had to build a smaller house as the first one didn't value up so I used the finance clause to get out of that one.

But not one that land and building. Are you within the cooling off period? Otherwise what does the cancellation clauses in the Contract say? Was it dependent on finance?

Hi icat2000. Thanks for the suggestion and for giving me some info about your cancellation experience.

Finance has been approved but siteworks has blown out which is above our budget. We asked for total costs for siteworks before land settlement but builder has provided it after.