Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

5
Posts
0
Votes

Tenant Holding Deposit Laws if Backing Out

Posted

Hi! Recently I saw a great house I loved, and after talking with the owner of the property put a holding deposit down ($250) so we could firm up a date, tentatively June 1, when the current tenants move out. After putting the holding deposit down I have discovered several sketchy things about the owner and want to back out. Sketchy Things are 1) She showed me the house WITHOUT alerting the current tenants that she was showing the house (I didn't know this at the time, but found out later). This makes me nervous she may just enter my home any time she pleases, and is either unfamiliar with the laws on a 24 hour notice, or just doesn't care). 2) I asked her to send me a copy of what the lease would be to look through and she sent me SOMEONE ELSE's LEASE, a current tenant, with all of his information on it, amount of rent, financial info, etc. Wasn't even blacked out, so fully giving up his privacy. 3) Discussed another tenant's credit issues with me explaining why he has to give more deposit because he has terrible credit, and she said this after giving me his name and info (this was also the guys lease she sent me over).

I am now super nervous that this person has no sense of personal privacy, and I don't want to have a landlord like this. I have NOT signed a lease, but did send a holding deposit of $250 to show interest, and hold the house. Several other people were interested (and still are) in the house, move in date would be June 1. Can I request my holding deposit back, or is it gone forever?

Located in Michigan!

Loading replies...