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  1. Terry_w

    Legal question - OTP and keeping deposits

    Possibly closing down for Christmas now and they will process it when reopen again. The deposit should be in a trust account so it should be safe (unless you agreed to release it).
  2. Terry_w

    Legal question - OTP and keeping deposits

    If you are within your rights to rescind then it won't matter whether the seller agrees or not. If they make an offer and you accept it then you could have a contract in force.But this may depend on a few things.
  3. Terry_w

    Legal question - OTP and keeping deposits

    Depends on the contract. Possibly. If it is deposited into an agents trust account then no interest - and the developer doesn't get access to this money, usually.
  4. Terry_w

    Legal question - OTP and keeping deposits

    Rescinded means avoiding the contract from the beginning, ie as if the contract never existed. So you should get your deposit back immediately if you rescind. If you terminate then this is different.
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