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Can i be refunded my house deposit if i have cancelled my plans of moving to a new house?
I had plans to move to a new house in my neighborhood. I paid a deposit for the house, but I've had to cancel my plans. Am I entitled to a refund?
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Comments:
Maurice
said:
Receiving or not receiving your house deposit refund is based not various factors which may vary depending on the circumstances under which the cancelation is made. It is therefore advisable to ensure that both the buyer and the seller have met their contractual obligations. The buyer is also supposed to have read and understood the terms of the sale.
The possibility of getting your house deposit refunded typically depends on the terms and conditions stipulated in the agreement you entered into with the seller.
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Winfred
said:
The whole point of a deposit is to secure the property against you changing your mind. When you place a deposit on a property, the landlord turns away other possible tenants. If you decide not to move in the house, you can be refunded the deposit. In cases where you've signed a lease agreement, I doubt the deposit is refundable. This is general information, you can look for a legal practitioner for more guidance.
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