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Old 10-20-2010, 07:40 AM
 
Location: North Port
325 posts, read 955,832 times
Reputation: 101

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Quote:
Originally Posted by SoFLGal View Post
That's what I was thinking. Why would you be giving the Realtor a $1k deposit if you had no agreement? If you do have an agreement then you should read what the stipulations are before you sign it.

I don't handle rentals but generally the way it works is that you give the person/Realtor a deposit to hold the property off the market so you can rent it. If you can't preform then you lose your deposit. That's why you make sure you can follow through before you give a deposit. I'm assuming it works the same way as a sales contract. You don't preform, you lose you deposit.

Hmmm....Can you explain?

So. Fl. Gal, when going into any contract:

First there has to be an agreement.
Then an exchange of money.
I know being a Contractor, if a HO wants to back out, then I can only can keep up to 10% of the total amount of the Contract.

With rentals may be different, I know there were costs that happened.

I am not looking for the whole amount.

I feel I am entitled some of my monies?
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Old 10-20-2010, 08:02 AM
 
Location: Lakewood Ranch, FL
5,644 posts, read 9,776,989 times
Reputation: 6866
Like I said, they might be right (I don't see how but I am not an attorney) but you are certainly entitled to an explanation by the broker. I suppose I might ask them to show you in the Florida statutes where they have the authority to keep the money. If you feel they don't have a reasonable explanation, talk with an attorney or tell them you intend to make a complaint with FREC (Florida Real Estate Commission). If I was a broker, I'd want to be damn sure that I was right before I had to defend myself to FREC.
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Old 10-20-2010, 08:03 AM
 
33,633 posts, read 53,548,861 times
Reputation: 20283
The OP has nothing in writing that says any/all of the deposit is to be refunded if the lease is not completed...
bad judgement...and a mistake on the OP/renter's part...
I am not justifying what the leasing agent did but the renter has responsibility to ensure his/her rights are protected...
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Old 10-20-2010, 08:05 AM
 
Location: Palm Island and North Port
7,511 posts, read 21,568,169 times
Reputation: 2854
Quote:
Originally Posted by kbuild View Post
So. Fl. Gal, when going into any contract:

First there has to be an agreement.
Then an exchange of money.
I know being a Contractor, if a HO wants to back out, then I can only can keep up to 10% of the total amount of the Contract.

With rentals may be different, I know there were costs that happened.

I am not looking for the whole amount.

I feel I am entitled some of my monies?
I'm not sure why any monies would have changed hands without some type of agreement. This is what you would refer back to if there was a disagreement. This situation seems unusual to me.

I'm not saying you are at fault or the Realtor is. Just trying to bring up different things that may arise.

Like others have suggested, you might want to call the broker for clarification.
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Old 10-20-2010, 08:14 AM
 
Location: Sarasota, FL
1,642 posts, read 3,137,997 times
Reputation: 812
Forward this thread to the realtor. Tell them to note they have not been named yet. Remind them there is an agency called the Better Business Bureau. Send them the Board of Realtors contact info, as well as the Attorney General/Consumer Affairs office. Explain to them that upon further review, you are committed to getting your deposit back.

The truth of the matter is that although you have no agreement saying it was refundable, they don't have one that says it is not, either. Of the two parties concerned, they are the ones bound by the regulatory body, and they are the ones with their reputation on the line.
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Old 10-20-2010, 08:17 AM
 
Location: Lemon Bay, Englewood, FL
3,178 posts, read 5,399,219 times
Reputation: 1162
My question would be, why on earth would anyone give $1000 deposit on a new place if they don't even know if they can get out of the old place first?? That just seems silly in my opinion.
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Old 10-20-2010, 08:18 AM
 
Location: Lakewood Ranch, FL
5,644 posts, read 9,776,989 times
Reputation: 6866
loves2read...just to prove that there are different ways of looking at things, I'd argue that the term "deposit" implies that the amount was intended to be refunded at an appropriate time unless certain conditions existed (spelled out in an executed contract/agreement) that would allow for total or partial forfeiture of the deposit. If there was no agreement, there's no basis for keeping the money, in my opinion. BUT I'M NOT AN ATTORNEY and I don't provide legal advice. I may be completely wrong. It's an interesting question and I'm curious to see how this works out.
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Old 10-20-2010, 08:22 AM
 
Location: Palm Island and North Port
7,511 posts, read 21,568,169 times
Reputation: 2854
I typed in "Rental Deposits to hold" and came up with this website. It seems as though this subject is not clear cut and there are definitely some "grey" areas. I was referring to the "option" to rent in my first post.

Getting Back Your Security Deposit

Deposits to "Hold" Unit
You may find an apartment that is available, and you want to move there, but not immediately. It may be ready the first of next month, and be perfect for you needs, and you don't want someone else to rent it. They ask you for a deposit to hold the unit, and you pay them some money which will be applied to your first month's rent or security when you start. They will stop advertising it as a vacancy, and you need not look around any more. Is that a "security deposit?" you may ask, but there is no clear answer. It depends on what a court believes the money was for.

If its primary purpose to pay for them not renting the unit to someone else, it is an "option" to rent, and you're paying just for the opportunity to rent that place. You got what you paid for if they don't rent it to anyone else. If you change your mind, such as because you didn't get transferred to that city, the money you paid to "hold" it is gone. They put it back on the market, and you've lost your deposit. Consequently, if that is what they want the money for, don't throw it away on a hope.

If the primary purpose is to begin the contract [really to show that you have the money], and pay the initial amounts in advance, awaiting only for the tenancy to begin, then the money is within the security deposit definition. If you change your mind, tell the landlord, and never move in, it should all be recoverable.

Another situation arises where the landlord promised that certain things would be done before you move in, by X date, and on that day they are not done. For example, he/she may have promised new carpet and paint by November 1st, but it hasn't even started by that date, and you're waiting outside with your moving van. You can stop the contract then, not move in, and get all of your money back. The contract was conditional, and the landlord breached that condition. You should get the money without waiting, whether it is a security deposit or not.

Here's another website that talks about security deposits:
http://www.ptla.org/securitydeposit.htm

Seems like an attorney might be your best option at this point, or a call to the broker.

Last edited by SoFLGal; 10-20-2010 at 08:34 AM..
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Old 10-20-2010, 08:23 AM
 
Location: Yucaipa, California
9,881 posts, read 20,483,744 times
Reputation: 6747
You should post the name & contact info of the realtor on the forums.

I would!
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Old 10-20-2010, 10:42 AM
 
Location: Ohio/Sarasota
913 posts, read 2,225,918 times
Reputation: 445
Quote:
Originally Posted by steel7 View Post
You should post the name & contact info of the realtor on the forums.

I would!
I wouldn't just yet. Threatening to post the info might be the only leverage he has. Once you post it, you have lost that leverage. My advice is to contact the BBB and begin their process. Contact the realtor a few days later and tell them what you are doing. You might add if he does not return your money you will post this on local websites, this isn't the only one. Since he posts on Craigslist, I would threaten post there also.
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