Hi legal experts,
I've got a client who is looking into purchasing an NRAS property where the real estate agent asking for a $500 non-refundable deposit to hold a property.
The problem is, they can't:
1. Provide them a copy of the contract before putting down my deposit (its not ready for a month or so for some reason).
2. They won't tell them who the NRAS consortium is (so its hard to approve finances for the couple, and get an indication of fees, know the terms).
3. Won't allow valuations for a month (need the contract).
I just wondered whether an agent is allowed to ask for a non refundable deposit without showing them a contract!
Cheers,
Redom
I've got a client who is looking into purchasing an NRAS property where the real estate agent asking for a $500 non-refundable deposit to hold a property.
The problem is, they can't:
1. Provide them a copy of the contract before putting down my deposit (its not ready for a month or so for some reason).
2. They won't tell them who the NRAS consortium is (so its hard to approve finances for the couple, and get an indication of fees, know the terms).
3. Won't allow valuations for a month (need the contract).
I just wondered whether an agent is allowed to ask for a non refundable deposit without showing them a contract!
Cheers,
Redom