| situations, except for after a bad home inspection - that is entirely a different thing. Your contact should state that anyway. Can you answer me why you put down money at all then if there is no risk of losing it? Why not just say "hold it for me". The money is irrelevant if it is not at risk. Again - you are paying that seller to pass up all other buyers until you can get the funds together. If you put money down on something you are not sure you even want, then you are wasting the sellers time and you deserve to lose the money. Our Z's are a perfect example. Fairly hard to find in excellent condition and very few buyers willing to pay what we all know they are worth. Someone gives you $500 to hold it and then a buyer shows up with cash in hand. You pass up that buyer and he finds and buys another one. Your other guy backs out of the deal and you are left holding your pud in your hands. Does he get his deposit back? Hell no. He cost you a sale, so since you can't make him pay the full amount - the deposit is forfeited. That is like destroying rental property and then being pissed the deposit is not given back. The money is at risk to keep the playing field level. It is paid insurance for the seller. It is not his fault you do not have the money for the item you want at the time you want it. Once again - I have always been a seller and been jerked around many times, so maybe I am just a jerk. I have lost deposits though in the past and have no ill feelings about it. Part of doing business.
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