To say that Realtors cannot be trusted to give advice is absurd. However, real estate law cannot be practiced by Realtors unless they are also attorneys. Almost all Realtors will refer you to a lawyer if the question is about the application of the law or if you need specifics about your circumstances.
My suggestion is to find out what you can directly from the parties involved before dragging an attorney into the picture. The attorney will ask you the same questions concerning your agreements and what documentation you have before rendering an opinion.
The "specialness" of the deed may be that your claim on the property is excepted in the conveyance. You should ask first of the builder what has happened, and if necessary, consult an attorney with a copy of both the deed and your lease/option documents. (I can refer you to one.)
While you have an interest in the property, until title actually transfers to you, the builder owns it. Your attorney can explain this to you. The option to purchase does not transfer title to you, so you don't own it. Your option may place a claim on the property. If the claim is unexpired and valid, title may have conveyed subject to your claim.
Renters often puzzle over what happens to their lease when a property is sold. The lease is generally assigned to the new owner and the renter's lease stands so long as both parties follow the terms of the lease. A new owner normally cannot change your terms or force you out, unless you breach the lease. Renters sometimes make the mistake of just moving out or failing to pay, and being forced out. Don't get in trouble with the new owner. Discover the facts first. Ask the bulder what he did, then ask the new owner what he expects, before you traipse off to a lawyer.
If you need some good attorney help - call me 972-679-9029
Robert J Russell
Coldwell Banker Residantial Brokerage
972-758-2045 Direct Line