Booking Fee With Ideo: Refundable?

[gemini81]

Ideo condo had me put 20,000 baht down on a one BD condo. However, the banks wouldn't give us quite the financing needed, so we just couldn't qualify based on the banks requirements regarding foreigners. Anyhow, 2 weeks since I signed the paper with the booking fee, they tell me they won't refund it. HOWEVER, there is nothing in the contract stating that it is, or is not refundable! So I keep having a go with them on the phone, asking for professionalism....like their competitor, Sansiri, who if you can't get financing, will refund you.

So what is the law regarding booking fees on condos? As far as I can find, it's contract-by-contract. I would just like some of the reservation booking fee back, not all, since I held the room for a brief period of time. Last but not least, I suppose I've learned who and who not to go with! AD property was much more professional with us, and gives you time to read the details before you decide, as well as honor their customers.

[ManOnTheRoad]

A lesson to be learn.

the best is before you even buy a property here check with the banks weather u are qualified or not,

Get a Pre Qualified or Pre Approved before you buy or made any downpayment.

If there is nothing mention about refund you need to be firm with them and show them you are pissed off. they will enventually give you money back . It will work trust me

[HampiK]

I also paid one time 10'000 baht booking fee. At the end i not want this one, and became the booking fee back... they paid it to my bank account.

But i was paying this amount in the thinking not to become it back, if i go away from contract. I was very happy to become it back.

The reason for me, to cancel was some parts i not liked on this appartment. And we also talked about this in begining. And the sales woman told, they will give back the money later if i'm not happy with contract... but easy to tell you a lot... at the end a good experience with this constructor company... by the way was an Indian company.

[ESB7]

Why should they refund you..........you cant get the financing, and not forgetting, they may have sold to someone else if you hadnt reserved it............

[dave111223]

HOWEVER, there is nothing in the contract stating that it is, or is not refundable!

Why would you assume that a deposit would be refundable?

If you wanted it make sure it would be refundable why did you not ask to have this specifically noted in the contract?

I bet the contract doesn't say "We won't buy you a pony" either, so I figure they owe you a pony too!

[trogers]

Who broke the contract?