Pulling out of house purchase.

gloobag

Howdy,

Just a quick query. Me and my girlfriend were all set to buy house, paid the booking deposit, offer accepted, decided on solicitor etc. . . but for various reasons we've decided not to buy right now. We haven't signed anything yet. What's the procedure with pulling out of the purchase? Is it simply a case of calling up the estate agent and telling them we're not buying it and getting our deposit back? Or is it going to be more complicated than that?

Cheers

staker

afaik you're entitled to all your money back so long as no contract has been signed.

stevie78

i did the same thing a while ago in kildare, paid booking deposit on house then after looking at the finnish on other homes in the development was not happy with my decision , rang the estate agent with whom i had left the booking deposit only to be told that i was liable for paperwork and phone call fees which would be coming out of the booking deposit. there was no paper work and i only ever got 1 phone call from them but they still took the money and there is nothing i can do about it . so i would advise you to ring them asap to let them know or if you can call to the office and get it sorted bec even though you didnt sign anything you could still get stung for stupid fees for nothing

Patrickof

I don't think the EA is allowed to withhold any costs from the deposit. The rules on operating a client deposit account are quite strict and taking costs from them without prior approval is not permitted.

You are entitled to your full deposit back.

Colonel Sanders

Patrickof wrote: »

I don't think the EA is allowed to withhold any costs from the deposit. The rules on operating a client deposit account are quite strict and taking costs from them without prior approval is not permitted.

You are entitled to your full deposit back.

+1

got onto either your solicitor or the small claims court ASAP. I'm sure if you won (which as far as I know is a foregone conclusion, someone correct me if I'm wrong) you'd also get legal costs from the EA

Mr. Presentable

Get your money back. Be glad you don't live in Italy, where your deposit would have gone directly to the vendor and is non refundable

Jo King

stevie78 wrote: »

i did the same thing a while ago in kildare, paid booking deposit on house then after looking at the finnish on other homes in the development was not happy with my decision , rang the estate agent with whom i had left the booking deposit only to be told that i was liable for paperwork and phone call fees which would be coming out of the booking deposit. there was no paper work and i only ever got 1 phone call from them but they still took the money and there is nothing i can do about it . so i would advise you to ring them asap to let them know or if you can call to the office and get it sorted bec even though you didnt sign anything you could still get stung for stupid fees for nothing

From the Auctioneers and House Agents Act 1973:

2.—(1) Subject to subsection (2) of this section, any provision (whether express or implied) in an agreement entered into after the commencement of this Act and relating to the sale, lease or letting of property (not being personal chattels), whereby the purchaser, lessee or tenant is required to pay or bear the cost of auctioneers' or house agents' fees or expenses in respect of the sale, lease or letting, shall be void, and any moneys paid under or on foot of such a provision shall be recoverable as a simple contract debt in a court of competent jurisdiction.

Ring the Auctioneer and tell him you want your money back pronto.

Moonbeam

I did it it a few years ago.
I paid a booking deposit and then pulled out of the sale,there was no iddue getting the full deposit back but it was a brand new house.