Refund of a reservation fee

Helenandmark

In March we paid a 10k reservation fee for a plot of land with a verbal agreement that the remainder 60k would be paid by March 2018. Our circumstances have now changed and we will be unable to pay the remainder and move within the next five years. What are the rules on refunds of fees in this case?

csgohan4

Anything written in contract? If verbal then it can't be enforced

dancingfairy

I would say you've entered into a contract. It depends on what (if any ) paperwork exists but presumably the builders could take you to court and argue there was an agreement. Without paperwork obviously its hard to prove what was agreed but obviously the fact you paid a deposit would, to me indicate an agreement.
Now whether they would try court is a different matter. It might be worth getting legal advice (do you have legal cover on a house, of through work)?
Df

dancingfairy

You must have something in writing? Do you have anything saying what happens if you pull out? Is this deal still being advertised to new people? (Perhaps you can take a screen shot if it is), any emails at all?
Dd