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 What does it mean contracts were exchanged ?
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 How do 18 year olds get approved for apartments w/o a cosigner?>?
think about it most 18 years old are not gonna have 2 years of credit history...and alot don't have good terms with there parents....i know alot of timesthey get roomates...so if one person ...


 First Time Homebuyer - Down Payment?
My husband is in the military, and so right now we are living on base housing. We both work, so we can save some money for our down payment on a house. We both have pretty good credit and were not to ...


 Do my local council have an obligation to ensure that the TV aerial on my roof is right?
I recently moved into a 3 bedroom terrace house (rented from Leeds City Council) and am having difficulties with my television reception. Upon inspection of the aerial on the roof of my house, I ...


 Do mortgage companies approve new loans with past foreclosures?
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 OMG! Some apartment complexes are refusing to rent to people with tattoos and piercings?
Just heard about it on CNN. In San Antonio, TX.

what the???

Is this sick and perverted?

I have tats thank you very much and I own my loft free and clear so I dont ...


 Can you really buy real estate with no money down or other people's money?
Figuring out if a bank will finance me to buy a second home for investment purposes. I know of a rental for sale. I don't have a lot of liquid assets and not a lot of equity in my current home....


 Who can fund my disabled sister for assisted living housing?
Somebody please help. My older sister has a severe neurological disorder. She has to move into an assisted living facility because she cannot live alone. She has been living at UNT in a dorm while ...


 Power Pole On My Property?
I bought a house 2 years ago. At the time I didn't even notice that there is a power pole in the backyard. Is this something I can collect rent for? I have a friend who negotiates with ...


 Where can I get a home loan with terrible credit?
I am in Georgia and I am looking to buy my first home. I have really bad credit, and no money to put down. Is there any place out there that can help me?...


 Is it illegal for people to destroy the home that is going to be foreclosed?
I read about people ruining their homes before they are evicted because it is being foreclosed on. Isn't that illegal?

A co-worker told me that she was looking for a home to buy with ...


 Has anyone ever heard of a Loan where you can purchase a new home while your existing home is on the market?
Without having to pay two mortgages?...


 Problems with our rented house?
My boyfriend and I moved into a rented house in January. From the start we had problems with it. They kept putting off the moving in date because things weren't finished etc and then when we did ...


 On average, how much is the monthly payment for a $200,000 home?
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 How long does it take to get lies straightened out?
So I bought property thinking it had 2 1/2 acres and the house built in 1964. Only to find out day after closing that there is 1/2 acrea missing and house was built in 57. I go to my agent for help ...


 How much is it to get your house apprasied ?
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 I own a house ($2500 mortgage). My girlfriend is moving in. How much, if any, should she pay in rent?
She currently pays $800 a month for her apartment. My home is 3bed/2bath and we would be sharing a room. Do girlfriends pay anything? Fair market rent? Discount for love? This is a relationship ...


 Are we stupid!????!!!?
Me and my boyf are buying a house, we have a mortgage set up and about a 50% deposit. I have been obssesively looking at flats in my area and there has always been one that I love.

Before ...


 Real estate question???please help?
is 7500.00 alot for closing fees for a condo woth about 145,000.00.the mortgage guy explained where each fee comes from but i kinda forgot,im getting the mortage from a federal credit union.should i ...


 Is Michigan is good place to live, how much range homes price there to buy own. Is that high?
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Axl Rose
Is it safe to tansfer deposit money before signing a contract?
I was told by the agency it is normal to transfer the deposit funds + the rent in advance before signing the tenancy agreement. Is that true? Because of the amount involved, I can't help but feel a litle insecure.......!
                     
 




matt culling
you can issist upon a contract signed sealed and delivered before funds are released ,
it seems a little odd that they are insisting on monies before the contract is signed , why would they wish this unless the motive was less than honest ?


hollywoodmelody
In one word NO.

Sit down with them, look over your tenancy agreement and make sure you agree and understand what the document says. Also make sure that they understand the document. Sounds funny I know, but you would not believe how mistaken someone can be, Anyway, once you both sign the agreement, take your copy of it. Then hand over the rent and deposit money but not before. This way you both feel you have control over the situation and no one loses.


halifaxed
Rating
Frankly, I would transfer the money at the time both parties sign the contracts or after exchanging contracts. I hav had several rented flats and always signed the contract and then given the agency the cheque. Don't trust anyone, my friend. Business ethics seem to me to be in decline. Years ago, you could trust people a lot more than you can today. This agency should have no problem with taking a cheque at the time you and they sign the agreement. Like you, I would be suspicious because what they said is not "normal".


simmychick
Rating
I would not do it...take the money in the form of a certified check with you when you sign the tenancy agreement. If they are not willing to do that, I would find some place else to rent. Sorry, something just doesn't sound right about the prepayment situation.


snowbird552002
NO not done- Both parties have to sign first, then the deposit money, You have to give a check/checque , that is the normal procedure - of anyone advices you otherwise it is wrong


shih tzu lady
You have to be joking. They will be saying that for their own convenience, rather than your security. Would you give a passerby a few hundred pounds when you dont know them? Dont do it - insist on a signed contract to cover yourself. It's not their own money they are risking here, it's your hard earned cash.


fionarwilkinson
should be done the same day they need to have the money cleared before they give you a contract.


Sparklepop
Rating
Hi,

Was it the agent that told you this? Never trust an estate agent! There are some decent ones out there, but there are a lot of sly ones out there too. They basically want you to do this for their own convenience - they are pushing their luck.

Personally, I would not do it. The landlord should already have a tenancy agreement written up - all you need to do is sign it.

When I rented as a student, my landlady asked for a cheque to be posted back with the signed tenancy agreement. The same thing happened with my sister recently - she signed the tenancy agreement then handed the money over after signing. Basically, if you give your deposit and rent in advance before signing the agreement, the landlord can legally pull out at the last minute... taking your money with him.

The only reason the landlord wants the money up front is in case you sign the agreement but don't give him the money. To get around this, there should be a clause in the agreement stating that the flat is yours ONLY once the funds have cleared.

If they are pushing you to give the money now, don't be forced - no matter how much you love the place and want to live there. I had a similar situation about a month ago. We fell in love with an apartment, but because we have a chain the seller wanted a £10k deposit up front. He initially didn't want to bother with signing any contracts. When we insisted, he said he'd draw up a contract - but only under the condition that we completed in 6 weeks' time. Impossible. Luckily we said no - because 4 weeks later somebody without a chain has got the place instead. If we'd have paid him that deposit, we would have lost it.

Make sure that the contract is signed by both you and the landlord before handing over any money. If you lose your money, you won't be able to afford to rent another place.

xx Emmie


littlemissgio
Agents should give you another option than just to transfer the money straight over. Bankers draft or cash on the day of the move in. For an agent side of things its important that they recieve clear funds before you can sign the tenancy, if the money not showing in there account may mean you can't move in. If the any reason the property will fall through the agent will need to refund the whole amount to you. Here a website to help you www.arla.com


I_Love_McRedneck
Offer to hold it in some sort of an escrow account until the contract is signed, or give it to them when the contract is signed but DO NOT give them ANY money before you have a signed contract, that's just asking for them to take your money and run!
Do you go to Sears and give them money for a flat screen television that you haven't bought yet? Seems just as silly as what you're saying they're asking of you


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