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Refund of the paid deposit on off-plan property

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I reserved an apartment with a property firm on one of their off-plan developments and paid £3500 in this regard. Work on development has yet not started and will finish by June 2015.

Later I changed my mind (couple of weeks after deposit payment). Property firm is refusing to refund the money and said that it was a non-refundable deposit. I have signed the form confirming it is non-refundable.

The property has not had approval from local council at the time I bought. Is there any recourse in law to seek this refund.

Comments

  • dgtazzman
    dgtazzman Posts: 1,140 Forumite
    If you signed a legally binding contract, then no, you'll have to take it on the chin, but I would read what you signed carefully to check for loopholes.

    £3500 does seem an awful lot as a reservation deposit however. Most builders charge £500, I have heard of getting charged £1000, but even that seems rare...
  • argomatt
    argomatt Posts: 272 Forumite
    Seventh Anniversary 100 Posts Name Dropper Combo Breaker
    did you pay a non-refundable deposit and then encounter difficulties getting a refund?
    DFBX2016 #024
    Target = £10804
    Paid = £2434
  • I paid a deposit to property firm and the deposit slip included this clause

    "Note: Prices may be subject to exchange rate fluctuations if appropriate. Reservation deposits are
    non-refundable unless otherwise stated in conditions* and purchasers are subject to the conditions and
    terms directly with the developer on contract."

    I have not entered in any contract with the developer yet. Just a deposit paid to reserve an appartment.
  • ceh209
    ceh209 Posts: 877 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Reservation deposits are
    non-refundable unless otherwise stated in conditions*

    Did you receive those conditions? What do they say about refunds?
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
  • I was not provided with any conditions, either by the developer or agent, to date.
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