Whether a reservation deposit is refundable or not is simply down to what has been agreed between a buyer and seller.
Some considerations to take into account are a) are you purchasing from a developer or private seller? b) are you purchasing a condo or villa?
Typically a property purchase that requires legal due diligence on the property, ownership, holding company or lease structure should be refundable subject to specific terms and conditions.
It is rare for deposits to be refundable simply if you "change your mind" but is common if you are looking for clarity on specific points to secure your investment.
Your FazWaz consultant will work with you and the seller to negotiate a refundable reservation deposit should the ownership structure or sales and purchase agreement require further clarity.