My partner and I put a deposit on a block of land in Northern suburbs of Melbourne with intention to build our first home in Feb this year. The land is currently untitled and is expected to title around April 2022. In the meantime, our circumstances have changed as we have had to move interstate. We are now thinking of selling the land.
I was wondering we can get any advice on if we should sell the untiltled land (since prices have soared since we put our initial deposit) or wait until the land is titled. If we sell untitled land by nomination on profit, at what stage the buyer pay us? At the time of nomination or at time of titlement of the land?
Any advice from your experience would be highly appreciated! :)