I entered a contract for an off the plan block of land a year ago and it’s nearly ready for settlement. A lot has changed since then and I am no longer in a position to buy. I cannot go through with settling the land. The contract is not subject to finance and I paid a 5% deposit. I can lose that but I’m afraid of being sued. I asked for a mutual recession but the developer denied it. What does this mean for me? If I don’t settle, will I be sued? If so, how much would it be? Is it likely? Has anyone ever had this experience? What should I know?