If it is close to the deadline or has even exceeded the time limit, you can call the real estate consultant you contacted or go directly to the sales department to find the person in charge and ask for the earnest money to be returned as soon as possible.

Severely overdue and refused to refund despite repeated reminders. Complaints can be made to government authorities. For example, the Construction Committee or the Housing Authority or even the Consumers Association. Usually after a complaint is made, the developer will take it seriously immediately and the refund will be expedited.

Is the earnest money refundable?

If the earnest money is in the nature of a deposit, it should be refunded when the conditions stipulated by law are met.

According to the first paragraph of Article 586 of the Civil Code that will take effect in 2021, the parties may agree that one party will pay a deposit to the other party as a guarantee for the creditor's rights. The deposit contract is established when the deposit is actually delivered.

Article 587 stipulates that if the debtor performs its debt, the deposit shall be used as the price or be recovered. If the party who paid the deposit fails to perform its debts or performs the debt inconsistently with the agreement, resulting in the failure to achieve the purpose of the contract, it shall have no right to request the return of the deposit; if the party receiving the deposit fails to perform its debts or performs the debt inconsistently with the agreement, resulting in the failure to achieve the purpose of the contract, double the amount of the deposit shall be returned Deposit.