Yes Frank the seller can sue for breach of contract under normal circumstances. If we are talking about the many developments with planning issues, can the developers afford to sue? How many years will it take them to get to court? Most of these developers are being sued for breach of contract in the first place. People can walk away…but loose their deposit. Their choice. They do not own that property, therefore they cannot be pursued for losses made by the Banks. Anyway, for properties that have no LFO, even the Banks can’t sell them as repos.