It generally means that the builder pays a deposit but then can build on the land and does not have to pay the balance of the land cost for a period, such as 9 months, or a year or when the dwelling is sold/settled.
Primarily used to encourage builders of Spec homes in a new Subdivision.
Needless to say, very popular with spec home builders as their holding costs are significantly reduced.
These terms are generally less available in subdivisions that are booming.
cheers
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