Been reading and observering a lot here but a first time poster.
Will try and keep it short even though I really need some life saving advice. I had put $44k deposit for a block of land south east of Melbourne in one of the very talked about estates in Melbourne. It was supposed to title in June July 2019. I lost my job early Nov 2018 and still searching.
Now my conveyancer contacted me advising that the developer is titling the land in Jan 2019. I am in no position to settle the land as no bank will approve my loan without a job. I can't nominate anybody because of the no nomination clause in the contract. Plus with the current property market scenarios I am not too sure if buying this was the biggest mistake I made in May 2018. As per my research I bought at the peak.
I am really really stressed as I can't afford to lose $44k(3 years worth of saving).
I want to hear from the property/finance gurus. What are my options? Really looking for some constructive advice.