Posted by Jerry in Idaho [24.223.94.244] on Wednesday, May 08, 2013 at 17:38:04 :
In Reply to: Question... Are deposits refundable? posted by Jonas [67.142.178.21] on Wednesday, May 08, 2013 at 00:47:04 :
I think a deposit should be forfeited if the buyer changes his mind. Having said that, I have to say I have returned many thousands of dollars in deposits from people who wanted homes built and for some reason they have backed out at the end. I will have to say, most cases were for reasons beyond their control, but some have simply decided not to build. I think Jonas is entitled to the money in question. But I also am old school.
This reminds me of another situation. I bought a pto from a guy in Calif. who told me it came off of a W500. Turns out when I got the pto it was completely different than the one I needed. He refused to take it back and refund my money. Should he have?
I ended up selling it a couple of years later and have never heard any complaints from the buyer, but I had to sell it for less than I paid for it.