Like most... non-refundable. If you're worried about karma then re-list and sell the game. If you get at least $200 more than he was willing to pay, you can send it his way if you want to. No obligation though.
As others have said, I don't take deposits (but have been offered many times). Cash on glass. I'm typically not in a rush to sell so will hold it for a short time for someone with a verbal agreement to give them time to come look at it. But once they're here, decide and buy or move along. No hard feelings either way. I can move on to the next guy in line... Never had a single complaint from anyone I've sold to...
My 2 cents...
Jaz