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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 24854
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I ordered and paid a down payment on a tiny home to be put

Customer Question

Hi. I ordered and paid a down payment on a tiny home to be put in a park. I just want to know what my options are. Hand written in are the words...down payment is non refundable. What if I change my mind about all of this? The home has not been delivered yet. Thank you.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Oregon
JA: Has any paperwork been filed?
Customer: File with the state? I doubt it. I can find out today.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Not that I can think of. Thank you.
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 3 months ago.

Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

Expert:  RealEstateAnswer replied 3 months ago.

Good morning. If you walk away, the down payment is likely going to be lost. I say this because if you and the seller agreed that the down payment would not be refundable and this was in the contract which was signed, it would be binding. I say this because the seller can argue that they started working on and building the home and the down payment will be retained as a form of liquidated damages. This will make them whole, instead of having to sue you and determine the cost for the breach. They are entitled to get paid for the work done and any potential profits, once the agreement was signed, so if you cancel and back out, you can minimize the total cost which you would incur but have to take the loss on the down payment.

Expert:  RealEstateAnswer replied 3 months ago.

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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