What happens to booking deposit.

[YouNeek]

Hi,

I'm bidding on a property, but my own place has just gone on the market.

If I'm the winning bidder and pay a booking deposit, but then have to withdraw from the purchase (if, for example, I find another more suitable property, or my own house doesn't sell for the price I expect), am I entitled to a full refund of the booking deposit?

Up to what point does this deposit remain refundable?

Thanks.

 

[woods]

Th e deposit is refundable until you sign a contract.