Hundreds of new home owners have been left in limbo after the collapse of a land developer in Melbourne's outer north-west.

Developer Land Source Australia was placed in administration last year leaving residents of Waterford Estate unsure if key features of the estate – parks, ovals and shopping centres promised by the developers – will be delivered.

A housing estate in Melton South. Credit:Joe Armao

Bank-appointed receivers KordaMentha last week moved to sell the remaining 200-odd dwelling sites, advertising a mix of townhouse and traditional land lots for sale.

Biggin & Scott Land agent Andrew Egan said he expected a developer or builder to purchase the project given most of the planning and services were in place.