Returned Deposit

UPDATED: Sep 30, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Sep 30, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

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


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption