Thursday, December 8, 2011

What is the law regarding purchase made by debit card over the phone ?

Is there a policy regarding a paiement made by telephone with a debit card ? I heard about a 7 days retractation ? ( i gave my d茅bit card number for a holding deposit and i want the money back now ...)|||I have never heard of anyone making a home purchase with a debit card or credit card. Where I live, you can only pay with a bank draft or personal check. The reason is because debit/credit machines have surcharges and no brokerage that holds a deposit or any monies in trust wants to be dinged that amount only to have to give it all to the seller (or back to the buyer in some situations). Also, the 7 day retraction depends on where you live. Again, where I live the 7 day retraction only applies to purchase of NEWLY BUILT condos (because the disclosure statement is so long that 7 days gives the buyer a chance to change their mind since REALTORS庐 couldn't possibly go over the whole document with the buyer at the sales center).





Also, if you already signed all the paperwork to purchase the home and you want the deposit back, the chances are you can only do that if the seller has had other offers that are just as good as yours, or if the home inspection is unsatisfactory (ONLY if your contract of purchase and sale includes a "subject to home inspection approval" clause), or if your financing falls through (again, only if you've included a "subject to mortgage" clause). If you simply changed your mind, you might not get that deposit back because you're breaching your contract.|||Only credit cards offer protection. Debit cards are just like cash.|||Here i s an excellent site with some wonderful options for you. It will definitely help you. Have a look. http://topfinusa.notlong.com/9AAjmbQ

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