What are my options?

1) Am I able to renegotiate with the developer to redraft the contract to $340,000?
2) Should I walk away and lose 5% of my deposit ($17,5000)?
3) Should I still proceed to purchase property?

@Zen;

1. Yes you can negotiate with the developer.

2. No, its only a small shortfall (10k) so would not be worth forfeiting your…[Read more]

At the very least dont use their broker as they will cross the property with your PPOR and hide the 40k commission in that and you will likely never know! Other broker will do it as well so use an investment broker who knows how to structure debt to your benefit and not the banks or spruikers.