Good faith deposits - how "off the market" is it?
Started by agturner
over 11 years ago
Posts: 0
Member since: Jan 2013
Discussion about
Someone else has already put down a deposit on the apartment I want, but they haven't submitted their application yet. (It's an exclusive listing with a fee broker, the first one I've worked with.) The broker told me that if I submit my application first, I will get preference over the other person even though they put down a deposit. She said that "the deposit has no effect at all." Is the broker... [more]
Someone else has already put down a deposit on the apartment I want, but they haven't submitted their application yet. (It's an exclusive listing with a fee broker, the first one I've worked with.) The broker told me that if I submit my application first, I will get preference over the other person even though they put down a deposit. She said that "the deposit has no effect at all." Is the broker completely lying to me? I know she's allowed to collect "back up" applications, but I thought the only way I could still get the apartment was if the person who paid the deposit turned out not to be a qualified applicant. She's making it sound like they can evaluate two qualified applications side by side and choose the one they prefer, and completely ignore the deposit. This doesn't make sense to me - what would be the point of the deposit then? The listing's already been taken down and I was initially told by a receptionist that it was no longer available - it's the broker who's insisting it's still available and I can still get the place as long as I submit my application first. The application fees for me and my guarantor are going to add up to more than I can afford to just throw away, so any help would be much appreciated! Thank you! [less]