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Renting - deposit before offer accepted?
purple-rain_3
Posts: 43 Forumite
Is it normal for a letting agent to take a "holding deposit" before passing your offer and terms to the LL?
I was told that if the LL does not accept, I'll get my deposit back, but it seems to me like I shouldn't be paying until AFTER my offer and terms are accepted?
I was told that if the LL does not accept, I'll get my deposit back, but it seems to me like I shouldn't be paying until AFTER my offer and terms are accepted?
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Comments
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It is (sadly) very normal. Get a receipt and, if it were me, I'd ensure (eg by emailing them.,.) that deposit is only provided under returnable conditions.. (ie if they decide to rent to someone else they must return it to you..). If they are honest & serious they'll agree to take it off the market having accepted a holding deposit....0
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Yes, make sure your receipt states clearly the circumstances under which it will be returned (or, better still, the terms under which it might NOT be refunded), and whether this applies to the full amount or whether there is an 'admin' element (or similar) that is non-refundable......0
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Remember to keep the reciept with you.0
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First time I have heard of this. If you have even the slightest doubt about the place then tell you LA, you wont be paying him any deposit. What happens if you change your mind or find something better/cheaper tomorrow ?Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp0
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