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Re: Can a broker keep a deposit?

Posted by Unstoppable Ed on August 15, 2000 at 19:05:52:

In Reply to: Can a broker keep a deposit? posted by Eric Parucki on August 15, 2000 at 16:13:23:

Someone with more legal knowledge can give you a more precise response.

But you made several mistakes, which you're probably aware of but I'll post for the benefit of others.

First of all, don't pay a deposit on anything unless you certain you want it.

Second of all, in real estate one should take care of everything at once. This means that, in general, you should pay your deposit, pay the broker, sign a lease, and get the keys to the apartment all in the same sitting. Brokers may try to get you to put a deposit down immediately upon viewing the place, tell you that others are waiting, this is your only chance. Well....let the others take the apartment, the only way to proceed is on your own terms.

With regards to your broker, I don't know how to proceed, but perhaps they would agree to use your already-paid deposit as their fee in finding you another apartment ? Worth a try, though they may have already given the deposit to the landlord.

: Does anyone know... If I gave a check to a broker (NYC) as a deposit and I decide NOT to take the place, do they have to return my deposit? They told me that they will not return the deposit as they "did all the work" and I decided not to go with the place.

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