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Posted on 8/30/18 at 8:54 pm to flyAU
Depends on how much under market value we are talking about.
Remember,too, he isn't paying a realtor fee in a direct sell to you, either.
I would try to treat the two ( ending of the rental contract, and buying of the property) as two separate business dealings.
I would expect the return of the deposit, especially since he isn't paying to clean it up and repaint it for a future renter.
Remember,too, he isn't paying a realtor fee in a direct sell to you, either.
I would try to treat the two ( ending of the rental contract, and buying of the property) as two separate business dealings.
I would expect the return of the deposit, especially since he isn't paying to clean it up and repaint it for a future renter.
Posted on 8/30/18 at 8:54 pm to GRTiger
quote:
GRTiger
Appreciate your non-shite post. Well he got a hell of a deal as well to be honest. He is a realtor and had to pay no commission on either side so that was 9k right there that he saved by me buying through him. I have no ill will towards him but to say he was a good landlord would be a bit overstatement.
It had been acknowledged that any days left in the last month of the lease would be paid back to me so that part isn't even part of the question. It was more about the 1k security deposit.
And Weagle, it is an ethics question because I am in here asking if I should ask for it back. I know I legally can get it back (and he offered it) but didn't know if I was off base. I have had people on both sides say something different. So I brought it here.
Posted on 8/30/18 at 8:56 pm to fightin tigers
quote:
'Do you have the $1k for my deposit? No no, this has nothing to do with the sale. I am the renter now.'
I think you are lost.
Posted on 8/30/18 at 8:57 pm to flyAU
quote:
so that was 9k
So you spent $150,000 on a townhouse that needed a lot of work that was at least 6 years old
Posted on 8/30/18 at 9:01 pm to Rouge
quote:
So you spent $150,000 on a townhouse that needed a lot of work that was at least 6 years old
$300,000. He had no 3% to pay a buying agent because I purchased directly through him.
ETA: I am starting to feel like the guy that goes on the OT asking for medical advice. Have any of you done this before?
This post was edited on 8/30/18 at 9:04 pm
Posted on 8/30/18 at 9:03 pm to flyAU
quote:
$300,000. He had no 3% to pay a buying agent because I purchased directly through him.
Posted on 8/30/18 at 9:04 pm to tgrbaitn08
300K
Under market value
$1000 security deposit
Does not add up
Under market value
$1000 security deposit
Does not add up
Posted on 8/30/18 at 9:05 pm to flyAU
quote:
Am I in the right to expect that security deposit back?
Well hell yes you should get the security deposit back unless there is some specific damage that the guy can point to as a reason for not giving it back. If you were not buying the place would you expect the deposit back?
Posted on 8/30/18 at 9:05 pm to flyAU
You got the $1000 back in equity and will recoup it when you sell.
Quit worrying about it.
Quit worrying about it.
Posted on 8/30/18 at 9:06 pm to Rouge
quote:
$1000 security deposit
Oddly it was half of rent, I did not complain.
Do you feel this is one of those fun troll threads? This is boring as hell.
Posted on 8/30/18 at 9:07 pm to highcotton2
quote:
If you were not buying the place would you expect the deposit back?
No
Posted on 8/30/18 at 9:08 pm to flyAU
You said you had the foresight to keep the two agreements legally separate, implying this was on your mind before the deal. Why didn't you bring it up?
Posted on 8/30/18 at 9:12 pm to GRTiger
quote:
You said you had the foresight to keep the two agreements legally separate, implying this was on your mind before the deal. Why didn't you bring it up?
Prorated rent was and that is not of issue (around $1,100) When I had said, "so with security deposit that would be $2100. He came back saying he was keeping the deposit. Thats where this question came from. Since then he said he would give the security deposit back but I legit was trying to figure out if my way of thinking was off base in the first place.
Posted on 8/30/18 at 9:12 pm to fightin tigers
Poor kid doesn’t have a clue
Posted on 8/30/18 at 9:16 pm to flyAU
quote:
If you were not buying the place would you expect the deposit back? No
So when you rent VRBO and pay a $500 security deposit you don’t expect it back after you don’t trash the place? I have lived out of state for 12 years and when I moved I damn sure got my utility deposit back from the local utility.
Posted on 8/30/18 at 9:20 pm to highcotton2
quote:
So when you rent VRBO and pay a $500 security deposit you don’t expect it back after you don’t trash the place?
I understand that there is wear and tear after 6 years living here and they need to repair things. If I left then obviously they would get the security deposit and possibly a bit more.
Renting a place for a few days doesn't "normally" mean repairs are needed so the security deposit should be returned.
Posted on 8/30/18 at 9:24 pm to flyAU
It’s your money, literally. They can’t even put it in an interest earning account. If your purchase contract said nothing about it then it would default to your lease contract.
Posted on 8/30/18 at 9:24 pm to flyAU
I'd say if you reasonably expected to get it back had you not bought it, then you're good.
If you knew or had a pretty good idea you wouldn't, and you used the disrepair to get a better price on the house, you're on shakier ground. I wouldn't say you would be petty in that case, but it might be worth letting it go if you got a really good deal.
If you knew or had a pretty good idea you wouldn't, and you used the disrepair to get a better price on the house, you're on shakier ground. I wouldn't say you would be petty in that case, but it might be worth letting it go if you got a really good deal.
This post was edited on 8/30/18 at 9:26 pm
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