If I walk away and do not buy a home I have made a deposit on, do I lose my deposit?
Edited
Question:
If I walk away and do not buy a home I have made a deposit on, do I lose my deposit?
Answer:
It depends on whether there is a signed contract or not. You can walk away at any time prior to the contracts being signed without any risk of losing the booking deposit that you have paid to the auctioneer. If contracts have been exchanged and signed then that is a different position and then you are at risk of forfeiting the contract deposit if you do not complete the purchase. Be sure to consult a solicitor before you sign any contracts. letsbeam.ie
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