Returned Deposit

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Returned Deposit

On 10/31/16 I made a 2000 deposit on a
Lennar home in the west palm beach area of
Florida. I originally went in to do pre-
qualification paperwork but was told in order
to hold the property I needed to put down a
deposit which I did stupidly with have a
realtor review paperwork and the contract. I
will admit that I was told if I change my
mind I will lose my depositans, If I didn’t
get approved for the full loan I would be
returned my deposit minus the application
fee. I spoke with the sales rep less than
24hrs later and informed him I was no longer
instrested in the property but, he refuses to
refund me my deposit. Legally is there
anything I can do at this point?

Asked on November 4, 2016 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

If there was something in writing (e.g. something in the contract) that if not approved, you would receive your deposit back, they have to return it; and if they do not, you could sue them for breach of contract. However, if the contract you signed did not provide for the return of your deposit in this situation, you cannot get it back: ordinarily, deposits are kept if the buyer pulls out, except when there is something in writing to the contrary.


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