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Cyprus Eastern Forum Index » Ask Nigel A Question » Withdrawing from a resale purchase
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Withdrawing from a resale purchase 
Post: #1   PostPosted: Sat Apr 14, 2018 9:12 am Reply with quote
gough69
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Hi, we just wondered where we stand regarding a deposit we recently put on a resale apartment. Due to unforeseen circumstances we donít think we can now continue with the purchase. We have placed with our solicitor a Ä5k deposit, would we get our deposit back if we withdraw, less any solicitors fees, or would we lose the full amount?
Many thanks
Anna
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Re: Withdrawing from a resale purchase 
Post: #2   PostPosted: Sat Apr 14, 2018 12:28 pm Reply with quote
tiny
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gough69 wrote:
Hi, we just wondered where we stand regarding a deposit we recently put on a resale apartment. Due to unforeseen circumstances we donít think we can now continue with the purchase. We have placed with our solicitor a Ä5k deposit, would we get our deposit back if we withdraw, less any solicitors fees, or would we lose the full amount?
Many thanks
Anna


Hi anna

i purchased a property last june, when i said i wanted it the agent said when i put the deposit down i wont get it back if i changed my mind, as it would be me who broke the purchase agreement
agent did say that if the solicitor found anything out that was worrying when doing the checks then i could pull out if i wanted and then i would get my deposit back as it would have been the sellers fault? ie withholding information regarding proplems
im sure other users will be able to enlighten you more on their understanding or experiences
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Re: Withdrawing from a resale purchase 
Post: #3   PostPosted: Sat Apr 14, 2018 3:36 pm Reply with quote
Steve - SJD
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gough69 wrote:
Hi, we just wondered where we stand regarding a deposit we recently put on a resale apartment. Due to unforeseen circumstances we donít think we can now continue with the purchase. We have placed with our solicitor a Ä5k deposit, would we get our deposit back if we withdraw, less any solicitors fees, or would we lose the full amount?
Many thanks
Anna


Anna - It would depend on what you agreed at the time - from what I have
seen it is usually non-refundable unless something is found which materially
changes the sale.

Cheers

Steve
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Post: #4   PostPosted: Sun Apr 15, 2018 8:29 am Reply with quote
nhowarth
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Hi Anna

Unfortunately, if you paid a deposit with no written agreement of the circumstances under which it would be refunded I doubt you'll get your Ä5k back.

Regards,

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Nigel Howarth
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Post: #5   PostPosted: Mon Apr 16, 2018 9:18 pm Reply with quote
gough69
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Thank you all for your replies, I did think this may be the case.
Regards
Anna
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Withdrawing from a resale purchase 
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