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Updated almost 5 years ago on . Most recent reply
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Can seller charge no refundable deposit ?
If buyer backs out in a legal contract—- Either with or without contingencies.
My lawyer said the court will not support such non refundable amount no matter what.
H
Most Popular Reply
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What size property is this?
For larger properties (100+ units), it is common these days to have some amount "hard" (non-refundable) and no such thing as a "sellers disclosure". The buyer has to do their Due Diligence.
Having said that, well written Commercial RE contracts have a clause about non-performance on the seller's part.