Posted by Kevin in Ohio [50.102.50.129] on Wednesday, May 08, 2013 at 10:51:20 :
In Reply to: Question... Are deposits refundable? posted by Jonas [67.142.178.21] on Wednesday, May 08, 2013 at 00:47:04 :
I've seen it go both ways in AND out of court. I'm old school and agree with comments below, if you put money down to hold and back out, you lose the down payment as a potential buyer. What's the point of it if there is nothing to loose? I'm not Paypal or a judge so you are at their mercy.
I don't think a seller should be penalized for someone else's change of mind, for ANY reason if the goods were as advertised and the buyer just wants out. Buyer made a mistake, pay for it, plain and simple.
People seem to think of a deposit as it pertains to a rental property anymore. VERY wrong logic to me. Another I'm not responsible for my own actions so let the authorities bail me out again. Bad trend that needs to STOP.
Follow Ups: