Can a deposit be refunded if the purchase is cancelled?
A deposit tends to be non-refundable to cover the developer’s administration fees as well as the sales time. This way, the developer can compensate the marketing costs that have been invested in cultivating the buyer until the contractual stage can continue. You are advised to deal with the developer directly. By doing so, you can make sure that the deposit is bound by a clear title and agreement of contractual terms, which has already been examined by your advisor. This will allow you a strong support in case an issue with the lease or title occurs at a later stage.
