Hi all
My husband and I are seeking advice on whether we are legally entitled to our 5% deposit back (or at least some of it) when we had to cancel our contract due to being unable to secure finance. Our land was so delayed in titling that our approval expired and when we went to re apply we got declined due to our finiancial situation changing. The building company have said they are entitled to charge ‘reasonable amounts’ for works already completed, but this is virtually our entire deposit! I don’t see how administration costs for example can equate to over $2000 when no physical work was even started. It just seems plain greedy to me! Is this worth fighting or do we cut our losses?