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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I bought a property at auction and than could not complete

Resolved Question:

I bought a property at auction and than could not complete on time; I tried to negociate with the vendor but they refused, now they have sold the property at another auction, can I claim my deposit back ? or how is it possible to ask for my deposit back ?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

For now please let me know how much the deposit is?

Customer:

£20,000.00

Alex Watts :

In reality you could try and claim in back, but you could also be sued for breach of contract. This is because you had a contract to buy the property and you breached it.

Alex Watts :

So whilst if you issue a claim for the £20,000 you could face a counter claim

Alex Watts :

I will outline the procedure for you.

Alex Watts :

You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.

Alex Watts :

If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.

Alex Watts :

The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.

Alex Watts :

If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial. As it is over £10,000 it will not be a small claim and you need a lawyer.

Alex Watts :

If you lose at Court then you would only not be liable for your legal costs but those of the other side

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

in reality, I do not need a solicitor to write to first letter to them

Alex Watts :

Yes or you can write yourself.

Alex Watts :

If you write it does not cost you anyway.

Alex Watts :

If you get a Solicitor it would cost you about £250

Customer:

ok thank you

Alex Watts :

Can I clarify anything else for you please?

Customer:

is the length of time relevant ?

Alex Watts :

No, you have 6 years to bring a claim

Customer:

ok thanks a lot I shall write to them tomorrow

Alex Watts :

Great. Can I help with anything else?

Customer:

not for now thanks

Alex Watts :

Great. If I could ask you to rate my answer before you go today please, the button should be at the bottom of the screen

Alex Watts :

If you need more help please click reply

Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
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