Gwkp

I am selling a small property I own in Puglia and have just travelled over to sign the compromesso and received a €5000 deposit. 3 days later the agents have informed me that due to an unexpected problem the buyer can no longer go through with the sale. They have apologised but have asked that seeing as this was unexpected would I return a proportion of the deposit? I know that legally I can retain the deposit, this was clearly stated in the contracts and unexpected or not, once you sign you are committed. Would it be usual in any circumstances to pay any of the money back to the buyers? It is more of a moral issue than a legal one as although it has cost me quite a bit of time and money to get this far I don't feel right keeping the buyers money if they have a genuine reason not to continue. Any thoughts or previous experience of this would be appreciated!

giuliana

If they pull out for any reason you can keep all of the deposit. It is a moral issue now, if the reasons are good you could decide although you have spent money and time travelling here.

Gwkp

Thank you for the reply Guiliana. It is hard as it has gone on for so long before getting to this stage that I feel I'm being messed about. That said if there is a genuine reason I would feel bad. Do you know of anyone who has returneed a deposit in similar circumstances?

giuliana

what are the circumstances ?

Gwkp

The agent has not given me the details just said due to unexpected circumstances they are unable to proceed. There was 6 weeks from agreeing the price to signing the contracts so it seems strange to want to back out 3 days after paying the deposit!

giuliana

I would keep the deposit.

BritInParis

Unless they can give you an explanation then I would keep it.

heritagestanley

I agree

philat98

If you turn the situation around placing yourself as the buyer and you wanted the deposit back there wouldn't be much chance. Put the money towards the cost of starting to sell the property again.

The buyer isn't the next door neighbour or anything like that? Then they might cause some trouble for you.

Pulaski

I also agree.

If there had been a heart-rending explanation I might return part of the money, but the explanation would have to include fatality or severe injury to a close family member.

Gwkp

No not the neighbours luckily! I had assumed they were property developers as house needs restoring and they are 2 guys mid 30's, who made a really low offer which makes me even less inclined to return the money!

Gwkp

I'm speaking to the agent on Tues & you're right, if it's a believable sob story I may buckle!

Gwkp

I would definitely like an explanation, although they could tell me anything and I'd be none the wiser!

modicasa

Presumably the agent wanted his money at the point of compromesso - or has he waived his fee?
Its a tough one - certainly you would want to know why the buyer didnt want to go ahead, if its just down to his changing his mind, or money supply, then its his fault. If his hamster's had an accident then its a moral issue for you, but in the majority of cases its a fib. For 5000 and the annoyance, travel time, fares and fees, plus possibly the agents commission, I woulddo all my sums before even considering it.

ononno

No way. It is not a moral issue, purely a legal and business one.