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Do you have to give deposit back on sale of your property if they back out?
Wiki User
∙ 12y ago
This would depend on how your contract of sale has been drawn up and in which country you reside. Someone giving you a deposit to buy property creates a contract between you and the purchaser that they will fufill their part of the bargain (contract) by purchasing your property. Therefore if they do not proceed is a breach of contract which you would need to pursue through the courts. If your interests have been protected it will explain in the contract what happens if you or the buyer pulls out. The buyer may be responsible for all your costs until you resell the property ogether with interest added to those expenses. Normally a deposit is returned unless it was made clear and in writing before a contract was signed, that any deposit was non- refundable. If the buyer knew this beforehand and agreed to that condition, then you would be able to keep the deposit. If that was not the case then you would need to refund the deposit and make the buyers aware who have pulled (and give notice to this effect) out that you will be enforcing the clauses of the contract in relation to the purchasers pulling out. You should seek further urgent legal advice to clarify your position.
Wiki User
∙ 12y ago
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What if the new landlord tells you to find the old landlord to get back security deposit?
A new landlord has to have received the security deposit from the old landlord during the process of the closure of the sale of the property. The new landlord is responsible for that security deposit.
Can you cancel a vehicle sale contract and get your deposit back if the dealer did not get you to sign it?
Without a signature, there is no contract. If you want your money back the dealer is obligated to give it to you.
Can you use your previous rental payments to pay towrad a down payment on a mortgage?
No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.No, not unless you had that agreement in writing with the owner of the property who has agreed to take back a mortgage in a sale of the property to you.
How does a 'sale and rent back' property transaction work?
The "sale and rent back" appears to be something that is available in the UK. The process is when one sells one's property and then rents the property back. It is stated to be a disaster and the UK are trying to put regulations in place to protect people.
In Missouri If you put a deposit on a car can you change your mind and get your money back?
Normally if you are putting a deposit down on a holiday, house, CAR, etc. and you pull out of the sale you will loose the deposit. Hope this helps
Can someone still buy a property with a Sale Pending?
If there is a sale pending on a property you could make a back-up offer subject to the cancellation of the previous offer.
Do you have to refund a deposit if the buyer backs out of a puppy sale?
It all depends on your agreement/contract. However - you can always act as a human being - ie if you can easily sell the puppy to someone else then you are not making a loss and the decent thing to do is give the deposit back - but if you can't and it is going to cost you to sell on the puppy then keep the deposit but tell the buyer why.
vacant home at 920 chickasaw nashville,tn 37207 is it city property do to back taxes?
Is this property for sale do to none payment for back taxes, and how much?
What are the laws of repossession pertaining to goods sold in Penna.?
Once the property is taken back, the creditor will probably try to sell it. The creditor must give you written notice of the time and location of the sale. It is a good idea to go to the sale, so that you can make sure that the property is displayed and sold properly. You want the property to be sold at the highest possible price, because the money the creditor gets from the sale will be applied toward your debt.
Where can one sell their house and the rent it back?
One can sell their house and rent it back from the following companies: Rent back expert, Nihe, Market watch, Land property - finder, for sale by owner, Quick sale, Repossession, Buy sell property fast, to name a few.
Property Sale and Purchase In Mohali?
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What happens to the property if a property does not sell at the auction or Trustee's Sale?
If a home does not sell at auction it goes back to the trustee....(The bank / Lender). Typically the property transfers back at the starting bid...so in actuality it did indeed sell.
