Booking deposit refund

V

Versandvoort

Registered User
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Hi, we recently had to pull out of a house purchase as we were/are covid effected.....had full loan offer but couldn't draw down. Was very straight up with auctioneer as it was totally out of our control (partner getting TWSS) so contracts returned, solicitor paid but booking deposit still not refunded to my bank a/c, it been about 10 working days since seller put house back up on market....just wondering is anyone else in a similar position? I expected to be refunded within 4 days tops, starting to get nervous
 
Should be nothing to be nervous about - providing you paid deposit to auctioneer. They hold the deposit until the sale goes through
 
Versandvoort said:
I expected to be refunded within 4 days tops....
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I would have expected the same.

As a seller I had a sale with one of the big well known estate agents fail, before contracts were signed due to the pandemic.

The estate agents immediately returned the buyers booking deposit, they are legally obliged to return it but their policy is to do so promptly.
 
Yes, I think a personal call to office may be in order now, although its something I'd prefer not to do, seeing as I may have to use them again....
 
Sorry, which deposit have you not got back?
The booking deposit you paid to estate agent? Or the balance of the 10% that you paid to your solicitor?
 
Versandvoort said:
But I'm no longer buying the property now
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Sorry, yes I did mean that the vendor doesn’t get the deposi. That the auctioneer hold this safely for you. I had a booking deposit with a builder that took 3/4 weeks to be returned.
Also, make sure the solicitor has returned the deeds. Could be another reason for a hold up
 

Yes thanks, just nervy with the way business is going with the Corona situation, I have had dealings with the auctioneer before and as far as auctioneers go she is 'ok' and did try give us time to see if something else could be arranged when I told her what had happened....we cant get any credit now anywhere because of the wage supplement so the cash we have is literally all we have! I'll pop in during the week anyway I think, wouldn't be so diplomatic except I probably will have to view with her again in the future so don't want to fall out with her either
 
RedOnion said:
Sorry, which deposit have you not got back?
The booking deposit you paid to estate agent? Or the balance of the 10% that you paid to your solicitor?
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Hi ....just the estate agent booking deposit 6k, contracts returned unsigned and sellers house back up on market
 
Sorry, I mixed it up, I thought someone had mentioned solicitor, but clearly not.
No idea where I got that from!
 
Versandvoort said:
I'll pop in during the week anyway I think, wouldn't be so diplomatic except I probably will have to view with her again in the future so don't want to fall out with her either
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I wouldn't worry about that, they're all pretty 'thick skinned', have to be in that business. Always remember that they are working for the vendor and not you. You're the customer they have to be diplomatic with you.
 
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