Hi
I paid a deposit for a Market Stall business , the Vendor requested a 40% deposit on Feb 27th which was paid on March 2nd due to unforeseen circumstances I advised the vendor I was unable to proceed with the sale.
At the time of the deposit being made no contracts were signed or Bill of sale supplied. After I advised I was not able to proceed a Bill of sale arrived with a clause that the deposit was non refundable.Nil mention of this earlier.
I have requested the deposit minus 10% be refunded as I since found out that is the usual deposit amount but the vendors said they have sort legal advice and been advised.
There was intent so deposit is non refundable.
They are entitled to loss of potential work arrangements, potential sale, rent.
Is there anything I can do ?
Thanks
I paid a deposit for a Market Stall business , the Vendor requested a 40% deposit on Feb 27th which was paid on March 2nd due to unforeseen circumstances I advised the vendor I was unable to proceed with the sale.
At the time of the deposit being made no contracts were signed or Bill of sale supplied. After I advised I was not able to proceed a Bill of sale arrived with a clause that the deposit was non refundable.Nil mention of this earlier.
I have requested the deposit minus 10% be refunded as I since found out that is the usual deposit amount but the vendors said they have sort legal advice and been advised.
There was intent so deposit is non refundable.
They are entitled to loss of potential work arrangements, potential sale, rent.
Is there anything I can do ?
Thanks