If you paid a subscription deposit (认购定金) or a down payment on a new home, and no formal contract was signed or the loan was not approved (for example because policy tightened or the bank stopped lending after signing) and it is not your fault, demand a refund from the developer
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In plain words
If you paid a subscription deposit and no formal contract was signed, or the contract says a loan will be used but the loan is not approved, and the cause lies neither with you nor with the developer (for example, policy tightened or the bank stopped lending after signing), the developer must refund the deposit or the purchase payment with interest. If the cause is your own overdue payments on your credit record or insufficient income, the deposit is not refunded.
Mentioned in
Translated from the Chinese original. Original book, section 15, tip 11. Content may be out of date and rules differ by place. When you actually deal with an agency, a doctor or a court, follow what local officials, doctors and lawyers tell you. Disclaimer