Deposit return

[munsterman25]

Hi there

I have sale agreed on a site and have paid a booking deposit of 6K. Up to what stage is this refundable. Planning permission is going to be a major issue so I may decide to pull out and not apply.

If I pull out before signing a contract then I will get my 6k back yes?

If I was subject to contract I would then have to go through the plannign application and have it refused before I would get it back. Is that right?

 

[CCOVICH]

Re: Deposit

A booking deposit is refundable at any stage up to signing of the contracts as far as I know.

Could you please edit your thread title to make it more relevant. Thanks.

 

[munsterman25]

Thanks CCOVich,

WE are currently getting a price from an architect and solicitor and if its favourable we will take the risk of applying for full planning.

Assuming we do we will then sign the contracts subject to planning. If we are refused planning our full deposit will be refundable yes? costing us nothing but the solicitors and arrchitects fees?

Solicitor mentioned somethign about an auctionners fee but I assume the vendor is the only one who would be paying the auctioneer

 

[CCOVICH]

You are correct as far as I can tell munsterman25. The situation has been discussed before on AAM.