Help !!?? to get my deposit back

cottingleydi

Hi
I put an offer in on a business in November 2006 and paid my deposit to the estate agents of £2500. I signed a contract stating that I would lose this if I withdrew, however, the contract stated that if the vendors failed to maintain the business as a going concern that they also would be in breach of contract. The money is still with the estate agents- I told my solicitor I was not proceeding with this purchase in February- 2.5 weeks ago. I have tried to contact the vendors' solicitor by letter on Friday 2nd March and have still not had a reply. The business is still closed and has probably only been open a maximum of 4 weeks this year. It has definitely been closed since 6th Feb. What do I do? Any help or advice would be appreciated to get this money back. Please help.

Cheers
Cottingleydi

Astaroth

Your solicitor should be handling this for you... thats what you pay them for.

I would assume that the deposit was transfered to the seller and that the contract signed is with the seller and not the estate agent. If this is the case then your solicitor should write to them (or their sols) stating that they deem that part X of the contract has been breached/ the term has not been achieved and therefore you are withdrawing your interest and require immediate return of the deposit as per part Y of the contract.