Deposits...when its right to keep them

C

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Hi all, shall try and keep this short.
Friend put in an offer on a horse...subject to vetting, and put down a £200 deposit. she then hummed and hawed over this horse in the week between viewing and vetting, only to pull out of the sale the day before the vetting.
She asked for her deposit back as the sale did not go through...seller has said forget it you are not getting it back....who is in the right?
 
The seller has taken the deposit in good faith, probably taking the horse off the market, if the buyer has no reason to pull out ie found something at vetting or an undisclosed vice, the buyer in this case loses the money.
 
Agree with the others - the seller has the right to keep the deposit. If the horse had failed the vetting then the prospective buyer should get the deposit back.

As the seller I would be moaning about "time-wasters" and spending the deposit on a good night out!!
 
It would have been best to discuss the terms of the deposit beforehand but I think the seller has the right to keep the deposit, otherwise what is the point of it? If the horse failed the vetting then the deposit should be returned.
The seller may have cancelled other possible viewings and will have to advertise again with other buyers wondering what is wrong with the horse if it's being re-advertised.
 
Seller. Your friend's deposit implied she would be buying the horse as long as it passed the vetting, she changed her mind before the vetting, she forfeits the deposit.
 
'fraid everyone is right.
That is the point of the deposit, the prospective purchaser has confirmed her intention to buy the horse by putting a deposit down subject to a successful vetting when the purchase will be completed. the seller then takes the horse off the market as to all intents and purposes and once again subject to vet it is 'sold'.

The buyer pulled out before the vetting. Agree though, terms of a non refundable deposit should be made clear to both parties when it is placed.
 
Thats what i thought, but she thinks otherwise. I cant believe she pulled out at the last minute, she just cant seem to make her mind up about what she wants x
 
Morally, it's the sellers.

Legally (i.e. if this went to small claims court), I **think** that if there is no agreement that the deposit is non-refundable, then it has to be .... Don't quote me as I picked that up off a legal help forum years ago and could have twisted it in memory.
 
Seller won't return my deposit, says I paid it to hold horse, not for the vetting, which it sadly failed on two front legs after flexion. Vet has written this to me, she still won't refund, don't know what to do,
 
Sellers. I'm shocked your friend had the cheek to ask for it back! A deposit is a deposit to take it off the market etc. presumably they have done so and so it's just your friend breaking the deal.
They should keep it without a doubt.
 
Buyer pulls out for no reason other than a change of mind then they lose the deposit. If horse fails vetting then deposit is returned.
 
I think the seller gets to keep the deposit.

The buyer pulled out for their own reasons not because something was found at the vetting.

If horse had failed vetting or seller had changed their mind then yes buyer would get it back.
 
dolly-daydream said:
Seller won't return my deposit, says I paid it to hold horse, not for the vetting, which it sadly failed on two front legs after flexion. Vet has written this to me, she still won't refund, don't know what to do,
Click to expand...

Thats another story.

I should have been made clear your deposit was to hold horse until it passed a vetting.
not just to hold horse, then horse fail and you buy a broken horse!

Id take this further, a gienuin buyer would return deposit, a dodgy one would hope you walked away with out arguing.
 
Who ever pulls out of the deal loses.

If the seller changed their mind - they have to refund.
Your friend changed her mind - no refund.


Unless there are clear clauses, ie - subject to passing a vetting.
 
I paid a deposit on a little filly some years ago. There was some delay with her paperwork and transport and in the meantime I found a different mare in very bad condition and who I couldn't turn my back on. I cancelled the original purchase of the filly but no way would I have either asked for or expected my deposit back.
 
carthorse said:
I think legally the deposit should be refunded
Click to expand...

But surely that defeats the whole purpose of a deposit? I wouldn't expect to get a deposit back if I pulled out of a sale. Why then does a seller take a deposit, if they have to give it back because the buyer changes his/her mind?
 
Unless it was paid subject to vetting and the horse subsequently failed the vet then I feel the seller has every right to hold on to the deposit. Otherwise people could go round willy nilly putting deposits down on horses, preventing other potential buyers seeing them and still pull out.
 
The seller should definitely keep the deposit - I think its a bit cheeky to ask for the money to be returned if its just a case of change of heart
 
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