Contract fallen/cancelled - Refund Deposit to Buyer
This help file will guide you through the process to refund a deposit back to buyer that is not proceeding with a property purchase. You should already have entered the contract details and receipt the deposit. If not, please use the following instructions:
- Ensure that you have Created the contract. You can save it as a Pending offer if the contract was not signed. (Click here to - Add Contract)
- Go to Trust Account Tab and add the account (Click here to - Add a trust account) and add the deposit (Click here to - Receipt a Deposit)
Refunding the Deposit to the Buyer
- Use the quick search bar to find the listing address and go to the Trust Accounts Tab
- Process a Spend Funds from the buyers account and fill in the Date, Amount and Payment Method.
Use the Return Funds action drop down menu.
You can choose to enter a further description in the Particulars field. Save.
Marking the Contract as Cancelled
Follow this help file to change the listing status back to Available. Cancelling a Contract