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Buyer wants deposit back after he pulled out!
Comments
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I keep trying to reply, but when I submit it disappears, I have spent over an hour today trying to reply, to what are basically unhelpful statements.
It would be nice to trust EAs too, that they don't blatantly lie to you, we explicitly asked under what terms would he get his deposit back. We are very sorry for trusting them.
If it had been in any other industry, the deposit would be non-returnable as it is a promise of your intention to buy (at the price agreed – not £7.5k lower because you still can’t afford it), and that the seller won’t sell to another buyer in the meantime. Can you imagine what a car dealer would say if you asked for your deposit back because you couldn’t get enough money! We kept our side of the deal – he didn’t, with the house off the market for 2 months, dropping in value all the time in the current market (which I don’t need to remind EAs about).
I agree, these deposits are worse than useless, and ALL EA should either tell the seller they are not worth the paper they are (in our case NOT) written on, or refuse to take them.0 -
I keep trying to reply, but when I submit it disappears, I have spent over an hour today trying to reply, to what are basically unhelpful statements.
It would be nice to trust EAs too, that they don't blatantly lie to you, we explicitly asked under what terms would he get his deposit back. We are very sorry for trusting them.
If it had been in any other industry, the deposit would be non-returnable as it is a promise of your intention to buy (at the price agreed – not £7.5k lower because you still can’t afford it), and that the seller won’t sell to another buyer in the meantime. Can you imagine what a car dealer would say if you asked for your deposit back because you couldn’t get enough money! We kept our side of the deal – he didn’t, with the house off the market for 2 months, dropping in value all the time in the current market (which I don’t need to remind EAs about).
I agree, these deposits are worse than useless, and ALL EA should either tell the seller they are not worth the paper they are (in our case NOT) written on, or refuse to take them.
The car dealer would have made you sign something which said the deposit was non returnable0
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