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Hello, thank you for your question. My name is Tony, I can answer this for you.
Once you have exchanged, you are legally obliged to sell. However, if you refuse to sell, you might be able to negotiate something with the prospective purchaser, such as paying him a sum in compensation.
Usually, this is the deposit amount.
However, you need to be aware that the purchaser could, if he wanted to, compel you to sell the property by seeking an order for specific performance from the Court.
Most people don't bother - they just take the deposit that has been paid and find somewhere else.
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Can you say that you were misled into the contract?
I guess it's unlikely...?
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