Buyer pulled out of sale only getting half the deposit back?

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02 Nov 2009 00:00 by spiceboy36 Star rating. 4 posts Send private message

Hi can anyone help me?

I managed to secure a sale on my property in la Zenia about 4 moths ago, we signed a purchase contract and 3000 euro has been sitting in the agents client bank account waiting  for the buyer to raise the finance to complete the deal.

The agent  has been in touch to say that the buyer has decided not to go ahead with the purchase now and they want my account details in the UK to transfer 1500 euros.

I have not questioned why I am only entitled to half the deposit, I presume that is the norm?

Thanks

Andy





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02 Nov 2009 14:00 by georgia Star rating in Algorfa (As seen on .... 1918 posts Send private message

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A lot of agents have the clause written into the contract to keep 50% of the deposit for worked carried out. 



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02 Nov 2009 14:20 by spiceboy36 Star rating. 4 posts Send private message

Thanks for the info georgia.. have think about renting it out then.





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02 Nov 2009 16:16 by mariadecastro Star rating in Algeciras (Cadiz). 8098 posts Send private message

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Spiceboy:

Did you sign a contract with the agent? That is the basis for the answer to your question. Initially, according to the Civil Code and if that amount was considered a penalty sign, you would keep it fully for you.

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Maria


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02 Nov 2009 19:33 by spiceboy36 Star rating. 4 posts Send private message

Hi Maria,

I signed the purchase contract not the buyer! she wouldnt sign the document. I didnt see on it that I would only get half back to be honest if the buyer pulled out?

Thanks for your reply

 





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