We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Estate agent took holding deposit, I pulled out - where do I stand?
crafty_bison
Posts: 29 Forumite
Hi all,
Just wondering if I can get some advice.
Recently I viewed a property with one of the big national estate agencies, and my partner and I liked it and put down a £400 holding deposit.
The following week, for reasons that I don't want to go into here, we pulled out. Checking my bank account, the £400 had already been taken by the agent.
I knew that I had only signed one piece of paper and didn't recall it looking much like a contract, but I did not have a copy and so asked for it to be returned to me.
Today it turned up in the post. It's a form with the property address, rent details, proposed move-in date, tenants' personal information, then my card details, an "amount" entry (£400) and my signature. Nowhere does it state any terms, or even what the payment is for, let alone that it is a non-refundable deposit or anything like that. This is definitely the only thing we have signed in relation to the property.
To me this suggests that I did not sign a "contract" with the agent (merely a form with my card details on it) and therefore could attempt to recover my deposit. Could someone with experience advise on whether that is a reasonable inference?
Just wondering if I can get some advice.
Recently I viewed a property with one of the big national estate agencies, and my partner and I liked it and put down a £400 holding deposit.
The following week, for reasons that I don't want to go into here, we pulled out. Checking my bank account, the £400 had already been taken by the agent.
I knew that I had only signed one piece of paper and didn't recall it looking much like a contract, but I did not have a copy and so asked for it to be returned to me.
Today it turned up in the post. It's a form with the property address, rent details, proposed move-in date, tenants' personal information, then my card details, an "amount" entry (£400) and my signature. Nowhere does it state any terms, or even what the payment is for, let alone that it is a non-refundable deposit or anything like that. This is definitely the only thing we have signed in relation to the property.
To me this suggests that I did not sign a "contract" with the agent (merely a form with my card details on it) and therefore could attempt to recover my deposit. Could someone with experience advise on whether that is a reasonable inference?
0
Comments
-
Usually a holding deposit is not refundable if tenant pulls out: (You've delayed the rental of the place somewhat, and some expenses have been incurred..).
However if tenant is turned down by Landlord, usually holding deposit is returned..
Normally I spend much time criticizing the ineptitude & daftness of letting agents if I am responding to such posts but for once I feel you've dug your own hole & jumped in.
You could try asking, politely & calmly, for your money back - again.. and argue that £400 is too much to keep...
Cheers!
Lodger0 -
theartfullodger wrote: »Usually a holding deposit is not refundable if tenant pulls out: (You've delayed the rental of the place somewhat, and some expenses have been incurred..).
However if tenant is turned down by Landlord, usually holding deposit is returned..
Normally I spend much time criticizing the ineptitude & daftness of letting agents if I am responding to such posts but for once I feel you've dug your own hole & jumped in.
You could try asking, politely & calmly, for your money back - again.. and argue that £400 is too much to keep...
Cheers!
Lodger
Yes, I'm quite aware of having dug my own hole in this case, but at the same time I feel like I might as well make an effort to get some money back from them. Are you saying it's not relevant that they failed to actually have me sign an agreement that they could take a non-refundable deposit? That seems surprising, but then I am very inexperienced in this sector.0 -
It would not be much of a deposit if you could get it back despite not proceeding!
Or are you not disputing that it was a deposit, but rather wondering if you can get it back anyway?
Either way, no, the money is not rightfully yours so you should not be seeking to recover it.
Mathew0 -
I suspect that intent may be important. If you get to court, and the judge asks "Why did you pay 400 pounds if it wasn't a holding deposit?" that your answer of "Well it was, but I'd like it back anyway." isn't going to cut the mustard.
Contracts don't have to be perfect, and intent is very important.0 -
Yes, that's fair enough. I don't really have a leg to stand on. It was just that the guy we were dealing with was a biiiiiiit of a w*nker so it would've been lovely to show him up.
Lesson learnt. Moral of the story for me is avoid ever dealing with estate agents...!0 -
crafty_bison wrote: »Lesson learnt. Moral of the story for me is avoid ever dealing with estate agents...!
Or be certain about what you are agreeing to.0 -
I don't really have a leg to stand on. It was just that the guy we were dealing with was a biiiiiiit of a w*nker so it would've been lovely to show him up.
Blimey, if we tried to apply that test to all the w*****ers we met we'd never get any work done!!!
Cheers!
Lodger0 -
crafty_bison wrote: »Yes, that's fair enough. I don't really have a leg to stand on. It was just that the guy we were dealing with was a biiiiiiit of a w*nker so it would've been lovely to show him up.
Lesson learnt. Moral of the story for me is avoid ever dealing with estate agents...![/QUOTE]
Yeah probably for the best, they are after all the total scum of the earth
Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0 -
If you pull out of the deal you will lose the holding deposit. They may, however, allow you to transfer it to another property if you ask.0
-
Request the EAs Ts and Cs *in writing*. If a T withdraws, the LA/EA is only able to retain a "reasonable" amount from a holding deposit and should have given you the Tc and Cs before you signed for a withdrawal from your funds.
You, however need to learn how to protect yourself in future dealings.: do not sign papers/hand over funds before you have asked for full information to be given to you verbally and confirmed there and then in writing.
I personally would avoid any LA who asked for a holding deposit altogether.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.7K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 452.9K Spending & Discounts
- 242.6K Work, Benefits & Business
- 619.4K Mortgages, Homes & Bills
- 176.3K Life & Family
- 255.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards