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[Investment Story] Follow-up on the Apartment Sale Story
- Writing language: Korean
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Base country: All countries
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Summarized by durumis AI
- After agreeing to increase the deposit following the sale of my house, the contract was cancelled and the buyer demanded a refund of the deposit, sending a certified mail.
- The cancellation of the contract was clearly the buyer's responsibility, and the demand for a refund of the deposit was unilateral, so I responded with a rebuttal certified mail.
- Ultimately, another buyer appeared, and the contract was successfully completed. This experience made me realize that it is crucial to clearly define the deposit conditions when signing a real estate contract.
On Saturday evening, after 9 pm, I received a deposit for the sale of my house.
I heard that the buyer wanted to increase the deposit, originally planning to lower it by 2-3 million won, but they ended up raising it by 500 million won.
Although the amount wasn't huge, it wasn't small either, so I thought, 'Surely they wouldn't cancel the contract?'
I spent the weekend thinking that, and on Monday, I received the shocking news that they wanted to return the deposit.
Wow, I finally understood what it meant to be 'shocked to the core.'
I was dumbfounded, but I managed to regain my composure and said politely,
'Since you canceled the contract, I can't return the deposit. If you want to sue, go ahead.'
After giving that bold response,
a few days later, I received a certified mail from the buyer.
It was clear that they had canceled the contract, and their request for a refund was unilateral.
I knew I had a strong case if we went to court, but
actually receiving the certified mail
made me a bit anxious. Yes, I was a little scared.
I consulted with some acquaintances, and one of them, who frequently dealt with certified mail and lawsuits, provided a helpful example.
They weren't afraid to stand up for their demands, even when dealing with government agencies, not just landlords and tenants.
Seeing that, I thought, 'I'm just unfamiliar with this process, it's not actually that difficult.'
(I've been too nice in life...)
Right then, I drafted a rebuttal and sent it to a lawyer friend to review the next day. Then, I sent a certified mail to the buyer via internet mail.
If they had initially appealed to my emotions, showing remorse for their haste, and pleaded with me, I might have been willing to return a portion of the deposit.
However, they insisted on returning the deposit by citing conditions that were not agreed upon during the contract, which made me even angrier.
I mentioned that point in the certified mail, pointing out their errors.
[As a buyer in a large real estate transaction, a decision that comes with immense responsibility,
you should carefully consider and make a decision after careful deliberation.
Despite signing the main contract, the buyer didn't show any intention of fulfilling it.
They're demanding a return of the deposit, citing conditions that were never mentioned in the main contract.
This behavior is difficult to comprehend.]
(A concise and painful criticism)
If we had initially defined the deposit as 10% of the purchase price during the real estate contract,
and defined the amount sent as a pre-contract deposit as part of the deposit,
we might have been able to force the buyer to fulfill the contract.
I think we could have avoided this stress.
Thankfully, another buyer appeared, and we successfully completed the contract.
The atmosphere was definitely one where emergency sales were being absorbed.
Thanks to that, this time, I successfully received the deposit and finalized the contract.