Legal Question in Real Estate Law in Florida

Non refundable deposit

I am selling my home by owner. Buyer filled out a contract and gave me a $500.00 non refundable deposit (binder?) I was about to go into a contract the day I showed her my house. I killed the other deal and decided to take hers. She signed the contract but I had not signed it yet. We went to the lawyer today so we could make changes to the contract and I could sign it. she decided not to purchase my home. Do I owe her the $500.00 back?


Asked on 6/20/06, 6:51 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Non refundable deposit

From an economic and practical approach, if you refuse to return the deposit and the prospective purchaser sues, it will cost more than $500.00 to defend yourself.

If the so-called binder satisfies the basic requirements of an agreement to purchase and sell land,then it is in fact the contract, and cqan be enforced against the party who signed it.

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Answered on 6/21/06, 1:53 pm


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