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Hello CL, it depends on what is written in the Letter of Offer which forms a contract. If it is an unconditional contract and it is explicitly mentioned that the earnest deposit is forfeitable then you do not need to pay back the deposit. Please bear in mind that there is always a grace period for the buyer to sign the Sale & Purchase Agreement which is usually within 14 days from acceptance of deposit by the Seller. You will have to wait for this period to lapse unless the buyer gives you a cancellation in writing before this due date. Seek a lawyer's advise to review your document. Read More