Deposit refund entitlement query

roba19

Have read as much as I can google on this subject, but would appreciate some advice.

A year ago I placed a deposit of 50% (£1250) with a musical instrument shop in my town on an in-stock item (not a special order or anything). Since that time I have suffered with mental health problems (extreme anxiety) and financial problems have also ensued. During the period since placing the deposit the shop has left me several voicemails and sent a couple of emails asking if there is any update on me collecting the item and paying the balance. The instrument was taken off sale at the time of the deposit being placed, but was put back on sale (they also have an online website) a couple of months ago.
I have contacted them to say that I am now unable to complete the purchase and would like a refund. Their response is that a refund is not possible until the item is sold to a new buyer. This does not seem correct to me.
I would really appreciate some advice on what steps to take next. It would seem 'fair' to me if they wanted to charge me an administration fee, but not to retain my deposit entirely. The item is on sale at the original price, so they have not lost profit on it since the original 'sale'.
Finally, there is nothing in their terms and conditions online relating to deposits paid on goods and nothing on the invoice/receipt I received at time of deposit.
Many thanks.

marliepanda

I think you will struggle.

The item is now a year older. There may be new versions. There may be better versions. Maybe no one will want this one anymore yet youve stored it with them and theyve held it for you for a year now. They may not be able to realise full price for it. Obviously I dont know what the item is but it seems to be a 'one off' just in how you have described and tracked it.

They are not retaining the deposit, they are selling it on your behalf for you. Right now you own it, and you also owe them some money for it.

Right now youre thinking its not fair for them to keep your money,m but is it fair for you to promise to buy something, have them hold it for you for a year, and then back out leaving them to resell it? I would argue no, so its fair for you to get your money back, when they get that money from someone else.

System

Where i work customer sometimes dont collect their orders , we do ring them once [7 days after purchase]after that [21 days] the item is put back to stock and put through the system as uncollected . At any point up to a year after purchase the custome can return for a refund or to repurchase the item, after that year is up theres nothing that can be done to either get the item or the money back.

bris

You're not entitled to a refund just now. They will mitigate your loss by reselling the item and then you can get refunded.


They can however keep the difference between what they get and what you originally agreed to pay, so you might not get a full refund.

dj1471

Sounds like the retailer is being very reasonable, we often see reports on here of retailers trying to keep the whole deposit in similar circumstances (they can't, legally, but they like to try).

CHRISSYG wrote: »

...after that year is up theres nothing that can be done to either get the item or the money back.

Yes there is, small claims court up to six years after the fact.

pramsay13

Sounds reasonable of them but if you want the money sooner maybe you could ask for it to be refunded minus a certain amount to cover admin costs and them keeping it for a year.

stuartJo1989

Just a complete stab in the dark, but is this gambling-related?

I say that because it resonates as something I would have done back when I was gambling.

Being able to stump up £1250 in the blink of an eye (big win), but actually ending up not paying a SINGLE PENNY towards the remainder of the balance owed (lots of losing, anxiety, "financial problems", losing interest in the item and trying to reclaim the money to fund more gambling).

If that's the case, PM me if you'd like to talk.

If it ISN'T The case then I apologise wholeheartedly but I hope you can appreciate my sentiment Also, I'd say maybe speak to the company and see if they can get you on a payment plan + allow you to have the item.

Aside from that, refer to other posts for advice

roba19

Thanks for the feedback guys.

No, not gambling related. Had the cash available at the time, but as months went by my mental health deteriorated (went into a complete shell at home - it will be familiar to those who've experienced it).
In hindsight I wish the store had pressed harder for me to complete the purchase or given me some form of ultimatum. Financial situation has worsened & mental health not improved - trust me it's taken some effort to contact the store & to enter a post on here.
Still feel it's tough to have the total deposit held onto & maybe that's a negotiation point? Not feeling well enough to get into any form of possible confrontation at the moment, but there seems no real pressure on them to sell the item either - they've got the asset and half the sales value. May try to get a friend to negotiate on my behalf (though that also involves telling a friend the true nature of my current state of mind & wellbeing).
Thanks again guys. Any further comments are very much appreciated.

IAmWales

In hindsight I wish the store had pressed harder for me to complete the purchase or given me some form of ultimatum

Is several voicemails and a couple of emails not enough? There's a fine line between pressing and harassment.

I get the position you're in and perhaps that is skewing your thinking. It's entirely reasonable for them to keep the full amount until they are able to resell it.

Are you getting any mental health support, is it worth confiding in a good friend so they can support you more generally?

stuartJo1989

roba19 wrote: »

Thanks for the feedback guys.

No, not gambling related. Had the cash available at the time, but as months went by my mental health deteriorated (went into a complete shell at home - it will be familiar to those who've experienced it).
In hindsight I wish the store had pressed harder for me to complete the purchase or given me some form of ultimatum. Financial situation has worsened & mental health not improved - trust me it's taken some effort to contact the store & to enter a post on here.
Still feel it's tough to have the total deposit held onto & maybe that's a negotiation point? Not feeling well enough to get into any form of possible confrontation at the moment, but there seems no real pressure on them to sell the item either - they've got the asset and half the sales value. May try to get a friend to negotiate on my behalf (though that also involves telling a friend the true nature of my current state of mind & wellbeing).
Thanks again guys. Any further comments are very much appreciated.

No worries, had to ask just on the off chance

What about maybe asking the friend if they can loan you the difference? Just be clear about your financial situation and say that you'll either:

- Pay off the balance in monthly installments (even £10 a month gesture until you start getting an income back is a good gesture).

- Pay him the full amount back if you go on to sell the item at a later date.

Maybe also try communicating with the company via email if you don't feel comfortable on phone/face to face?

steampowered

Sorry to hear about the mental health issues.

The legal situation is that paying a holding deposit is usually seen as entering into a legally binding contract to buy the item. That would mean the store is entitled to retain the deposit and pursue you for the remaining balance, if they wanted to.

I think the store has been reasonable by agreeing to refund the deposit once the instrument has been sold to someone else. I think you will struggle to get anything more than that.

Hope you manage to get better.