Deposit Refund

[Beswad]

I made a purchase for a business about a couple of months ago but cancelled the purchase for nearly a month now. I left �3000 worth of deposit with the agency who is selling the business assured me that the deposit is refundable should the purchase didn't go through. I still have the receipt and all the initial solicitor's correspondence letters.

As yet I haven't chase them up because I want to give them a reasonable amount of time. I'm slowly getting worried that I might not get my deposit back, fearing that they may make an excuse, it was sent but might be lost in the post. If that's the case what can I do?

Your advice is appreciated.

[Didwot]

As the deposit was refundable if the purchase did not proceed I see no reason for you to wait. A polite letter to the agency would not be amiss. it may be nothing more tha an oversight on their part.

[erimus1]

Business assurances for refunfable deposits are useless - they are in business to make money. What you need to do is find out if this is stated in writing anywhere. If it does, and you have adhered to your part, you have the right to your money back as per the contractual agreement. Check the company out on the net to find out a bit more about them first - make sure they are not rogues.

If you can't find anuthing about the deposit return in writing, be nice - you're in their hands now. If what you find in writing is negative, i.e. it says that you are not entitled to a return, you have two options , which are quite lengthy and you will need a solicitor for - 1) Incitment into procurement of a contract, and 2) Unfair contract terms - they are both self explanitory in their meaning, but not for the layperson to put into action.
Good luck