^^ I know of four separate examples with three different builders that this type of clause was put in the contract. In only one case was the clause removed. In the other three times, the developer refused to change the clause and in the end, the buyers refused to commit to that contract.
Perhaps my view is jaded, but I think it's despicable that a developer would even try that. As for price renegotiation, I've already been able to do that on a condo that I've purchased. The developer that I have been dealing with has been very respectable and reasonable. It's not like I expect the developer to absorb the loss entirely, but they were happy to help share the pain in order to keep me as a customer.
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