Agreement For Non Refundable Deposit
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
A down payment is an initial non-refundable payment that is paid upfront for purchasing a high-priced item ? such as a car or a house ? and the remaining payment is paid by obtaining a loan from a bank or financial institution.
Generally no, the contract clearly states non refundable. But if after paying the deposit the seller backs out of the agreement without cause you would have a good case.
You can say, "Here's what we agreed to. You'll see that the deposit is non-refundable." Sleep on it. Don't ever make decisions at the height of emotion or under stress.
Include the details of the deposit agreement, including the amount, when it's due, and what it covers. Specify any additional terms for the deposit, including how the deposit will be handled if the deal falls through. Be sure to include the signatures of both parties to make it a legally binding document.
Is it possible to recover non-refundable deposits even if you agreed to pay it in a written contract? Yes. For a non-refundable deposit (or a liquidated damages clause) to be valid, it needs to be reasonable and proportional to the damage suffered by the party at the time of the contract.