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one reason why OTP should be in entity that can be sent down in flames, isolating the loss to the deposit. developers will take it as they just want any contract to get the project going, it's only later that the real greed kicks in

no it would be more a case of "Your honour I am the developer, a Mr Smith-Johnston, I have had this terrioble condition imposed upon me and goodness me, the contract sees that I am entitled to terminate. What's that, the property has doubled in value? Oh I wouldn't know, probably not. Anyway off...

ask the courts - if they uphold a contract then it's binding. everyone is entitled to get what they pay for. Cuts both ways too.... developers must deliver what they promise, even if the property has doubled in value.

yeh this happened to me when macquarie bank gave me a loan approval and then before settlement they decided they weren't a bank anymore so I couldn't settle. mine was also interesting as the deposit bond company had gone belly up as well. they can and almost certianly will go you for the...