Hi guys
I have purchased unregistered land and it is not due to titled until June 2015
The developers of the land have already pushed the settlement twice now so my confidence in the developers sticking to their word on June has dropped
I have put a deposit to a builder that I like to get the contracts and info ready to give to the bank to get finance approved
The thing that has gotten me worried though is the contract price for the build will be held until August 2015 and every month after that if the land is not ready I will have to pay $1000 a month!
I asked the builder to hold off on the contracts but he was reluctant to do this and told me the discounted prices he gave me were given to me on that I would sign the build contract before their price rise...
I would like for them to give me untill December or after Xmas (2014) to hold the contract price for me to be safer. The last thing I want is for the developers to again delay settlement and I would have to pay $1000 for each month the land is not settled. That would be a disaster
What are my options ? If I dont sign, the build might be more expensive and if I do sign I run the risk of the developers delaying again
I spoke to the developers on the phone, explained my situation, they said they are looking at June 2015, but yeh they also said Jan/Feb then April/May
Can I please get some advice