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Refund of the paid deposit on off-plan property
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JohnSmith0701
Posts: 26 Forumite

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.
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.
0
Comments
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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...0 -
did you pay a non-refundable deposit and then encounter difficulties getting a refund?DFBX2016 #024
Target = £10804
Paid = £24340 -
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.0 -
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 keyboard0 -
I was not provided with any conditions, either by the developer or agent, to date.0
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