Booking Deposit - Refund?

krattapopov

Hi All,

Just looking for your collective thoughts/experiences on this scenario if you have any. Myself and my partner decided to purchase a property and found one where the price was within our range and we liked it alot. We were informed that the sellers wanted a quick sale.

We busted our guts getting everything ready for the quick sale, put down a 5k deposit with the estate agents approx 2 months ago. We have been waiting on the sellers side for about 3 weeks with no light at the end of the tunnel. They were supposed to have requested a document from one source and we wanted a time frame on receipt. On my own investigation it turns out that this document was requested but subsequently the request was withdrawn. Now we are being told that the document is still pending from this request when we know it isn't!!

The estate agent has not been particularly proactive in getting this resolved and often do not return calls. Now we have threatened to pull out of the purchase because we aren't getting any satisfaction that things are getting worked on. Now I know these things can take some time but time-frames are not unreasonable.

I know I'm not being as specific as I should be but I don't want to name names/places etc. My question is - the deposit we left down (5k) are we entitled to get this back if we are pull out of the sale down due to the fact that the sellers are dragging their feet? We never signed anything stating that it was non-refundable.

So where do we stand?!

godtabh

krattapopov wrote: »

Hi All,

Just looking for your collective thoughts/experiences on this scenario if you have any. Myself and my partner decided to purchase a property and found one where the price was within our range and we liked it alot. We were informed that the sellers wanted a quick sale.

We busted our guts getting everything ready for the quick sale, put down a 5k deposit with the estate agents approx 2 months ago. We have been waiting on the sellers side for about 3 weeks with no light at the end of the tunnel. They were supposed to have requested a document from one source and we wanted a time frame on receipt. On my own investigation it turns out that this document was requested but subsequently the request was withdrawn. Now we are being told that the document is still pending from this request when we know it isn't!!

The estate agent has not been particularly proactive in getting this resolved and often do not return calls. Now we have threatened to pull out of the purchase because we aren't getting any satisfaction that things are getting worked on. Now I know these things can take some time but time-frames are not unreasonable.

I know I'm not being as specific as I should be but I don't want to name names/places etc. My question is - the deposit we left down (5k) are we entitled to get this back if we are pull out of the sale down due to the fact that the sellers are dragging their feet? We never signed anything stating that it was non-refundable.

So where do we stand?!

Do you have a solicitor? They'd probably know better.

Jo King

You are entitled to your money back if you change your mind for any reason, until such time as a binding contract comes into being. The contract is not binding until signed by both parties. Neither side have signed yet. Simply ask the Auctioneer for your money back. It should be returned immediately.

krattapopov

Thank you for the prompt replies, a slight bit of confusion was put in our heads in relation to a 28 day rule, which I presume is for the main 10% deposit.

Thanks