Deposits

Non-Refundable Purchase Deposits vs. Liquidated Damages Which Is Better? By-Dale Alberstone

Hello everybody.  My topic this month discusses problems with the legality of a “non-refundable” deposit provision in a real estate purchase contract, and presents possible alternatives. The Problem with Non-Refundable Deposits Often, the seller of real property wants the buyer’s deposit to be non-refundable meaning that if the buyer defaults under the contract or wrongfully…