There are provisions within the Condominium Property Act to get out of your purchase contract with a developer if you walk within 10 days of signing it (section 13 or so). I haven't dealt with it in a while but there is this relief provided on new condo developments that isn't offered for regular real estate purchases. Check them out.
The force majeure argument is not likely to hold any water. Even if it is, it will be appealed and won't stand up.
Developers will come after you for the difference in what they now sell the unit for vs what you agreed to buy it for, plus the developer will claim (and is likely entitled to) his interest.
Not great news in my opiniion, but that's my 2 cents worth.
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