What is usually required from a dealer if they retain a portion of the deposit when the deal falls through?

When a dealer retains a portion of the deposit after a deal falls through, they are typically required to provide verification of the costs incurred related to the transaction. This is important as it demonstrates the dealer acted in good faith and can substantiate the reason for retaining part of the deposit. This requirement helps to ensure transparency in transactions and can protect both the dealer and the purchaser by providing a clear breakdown of any valid expenses.

While notification to the purchaser is important for communication purposes and involvement of a lawyer might be beneficial in complex cases, the main legal obligation focuses on verifying costs as part of establishing the dealer's entitlement to retain any portion of the deposit. A guarantee of future sales is not relevant in this context as it does not pertain to the immediate issue of deposit retention when a deal fails.