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Old 05-07-2013, 04:36 PM
 
3 posts, read 9,959 times
Reputation: 12

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A Realty Company in NYC took a Good Faith Deposit from me for $2000 for an apartment in March, 2013.
I was then informed the apartment was rented to someone else. The realtor had cashed my deposit and would not refund it.
I was shown another apartment in April, 2013. The realtor applied my deposit to this apartment which also fell through before the lease was presented to me.
He did not refund it.
Now I am looking at another apartment. They have transferred my security deposit to this one. They said I was approved and then returned to tell me they would not accept my mother as guarantor due to her advanced age even though she has $10 million in the bank. They then told me I would have to provide five months rent up front which is over $8000.
I do not have $8000 and I told them this.
They sent me an email saying " You better decide if you really want to forfeit all this money. The deposit is not refundable". He is referring to the $2000 he took and cashed in March for a different apartment altogether.

Can anyone advise me on how to get my security deposit back? Are there laws prohibiting a security deposit from being refunded if the apartment was never leased and it was not my fault?
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Old 05-07-2013, 07:58 PM
 
Location: Upper East, NY
1,145 posts, read 2,883,855 times
Reputation: 561
Hold on. The "good faith deposit" turned into "security deposit" in the middle of your story. If it isnt clear what you gave him the money for, you might have a problem proving anything in court, but you should sue him in small claims anyway.
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Old 05-07-2013, 08:08 PM
 
Location: Greenpoint
126 posts, read 143,394 times
Reputation: 55
What do you expect us to do? It was foolish to put down a "good faith deposit". The best advice I can give you is to take him to court. Did you sign a contract? Oral evidence is nothing in the court of law. One thing about some of you transplants you all seem to be too naive, but whats 2 g's to you if your momma has millions in the bank?
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Old 05-07-2013, 08:16 PM
 
3,244 posts, read 4,969,607 times
Reputation: 2547
Does your multi-millionaire mother have a personal lawyer? Ask him, not us!
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Old 05-07-2013, 08:30 PM
 
Location: Anytown, USA
681 posts, read 1,580,322 times
Reputation: 382
Quote:
Originally Posted by PolishAmericanBklyn View Post
What do you expect us to do? It was foolish to put down a "good faith deposit". The best advice I can give you is to take him to court. Did you sign a contract? Oral evidence is nothing in the court of law. One thing about some of you transplants you all seem to be too naive, but whats 2 g's to you if your momma has millions in the bank?
Haha too funny!

Quote:
Originally Posted by bigjake54 View Post
Does your multi-millionaire mother have a personal lawyer? Ask him, not us!
Agreed! Either way....never ever give a realtor any money until he has earned his commission or unless the apartment has accepted you as their new tenant. consider this a expensive lesson learned.

Do you have a receipt or contract of some sort for handing over $2000?
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Old 05-07-2013, 08:44 PM
 
1,494 posts, read 2,594,623 times
Reputation: 928
1) Gather all your paperwork and communications, proof of checks, etc. and ask to speak with the MANAGER of the brokerage firm the broker works for- be polite, it's possible the broker is a rogue sheister and the bosses might not know what he's up to. If that doesn't work....

2) Make it known that if you don't receive your money back you intend to report them to The NY Despartment of State (NYS Board of Real Estate), REBNY and and the state association of realtors and pursue legal action.

It wasn't smart to leave a good faith deposit. Nevertheless it doesn't give the broker the right to steal your money. I would go to their superior. Illegal activity can actually get the branch manager in hot water and the state can suspend their real estate license, which also means the associate brokers working under that manager are suspended also (complicated to explain, but let's just say that a higher-up can be held accountable for what his/her underlings do). So it's in the brokerage's best interest to give you your money back, because if you rat out any illegal behavior to the state the state can make it difficult for them to do business. If you play your cards right, giving you back your stolen deposit is a drop in the bucket compared to what would happen if the management's license is suspended- all the associate brokers under that person will also not be able to work. But you are going to need documentation to show that you were never warned your deposits were non-refundable, and that you were mislead into giving the broker a rent deposit check which was cashed before you had a signed contract on an apartment.

Last edited by Alkonost; 05-07-2013 at 10:14 PM..
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Old 05-08-2013, 06:30 AM
 
Location: Manhattan
24,407 posts, read 34,240,060 times
Reputation: 11925
A rule of thumb is that once any landlord, realtor, agent gets his hands on your money, he will assume it belongs to HIM whether it is a security deposit, good faith money, escrow...doesn't matter.


You will win in court but the theiving bastards will always assume it is too much trouble for the victim to pursue it and they arr often right. If they lose, they have lost nothing. If the standard were set at treble damages ALWAYS, perhaps they would think twice before stealing your money.
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Old 05-08-2013, 09:49 AM
 
16 posts, read 29,676 times
Reputation: 20
Quote:
Originally Posted by PolishAmericanBklyn View Post
What do you expect us to do? It was foolish to put down a "good faith deposit". The best advice I can give you is to take him to court. Did you sign a contract? Oral evidence is nothing in the court of law. One thing about some of you transplants you all seem to be too naive, but whats 2 g's to you if your momma has millions in the bank?
If you think all non-natives are like the OP, you're the one that's naive.
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Old 05-08-2013, 09:56 AM
 
Location: New York City
559 posts, read 1,063,351 times
Reputation: 387
If it's in escrow, then it's in no one's hands. That's the whole point of escrow.

[quote=Kefir King;29472018]A rule of thumb is that once any landlord, realtor, agent gets his hands on your money, he will assume it belongs to HIM whether it is a security deposit, good faith money, escrow...doesn't matter. [quote]
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Old 05-08-2013, 10:57 AM
 
Location: Sunnyside
2,008 posts, read 4,487,018 times
Reputation: 1274
If your mom has over 10 mil in the bank get the 8k from her? and then pay your 5 months of rent to her?
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