Deposit refunded if caravan purchase is cancelled?

Questioner

I made a down payment to buy a caravan, but I couldn't get my financing. Does the other party have to pay back my down payment? The caravan is for sale again. I feel like I've actually bought part of the caravan. What can I do? Or have I lost my money now?

Lawyer

Good afternoon, A down payment is not legally required, nor is repayment. It depends on what the parties have agreed, what is stated in the general terms and conditions and what may be considered reasonable. The amount of the down payment can also play a role. With regard to the agreements, it is important whether it has been agreed that the caravan will be purchased subject to financing. It is also necessary to read any general terms and conditions. Has the seller indicated why you will not get your money back? Usually a deposit is retained to compensate for any losses (loss of profit or costs already incurred). If the caravan is sold, it may be that the seller does not suffer any loss at all. In the latter case, it can be argued that it is not reasonable that you do not get your deposit back. In short: based on your case description it is not easy to determine whether you are entitled to reimbursement. If you would like to discuss your file further, please feel free to contact us without obligation. Yours sincerely, Mr. Mr. S. Leito FerLei Legal 06-49175526