No doubt this is what the builder has probably done - delayed things so he can rescind the contract. He will now sell at a much higher price. Your contracts and the others probably helped him get finance for the project.
1. Who did you pay the deposit to? What did the contract say?
2. Did they agree to provide you with updates?
3. Legal fees will be large and there is a risk you will not win and have to pay the other side's legal fees. You will be looking at around $400 per hour for a lawyer to look over...
