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Is it legal for a property own to take my money like this?


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50 minutes ago, NoDisplayName said:

Why would you hand over 15K baht with no written agreement?

yes, that would be my reaction too.

there are also plenty of people leaving their passports with motorcycle rentals.

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35 minutes ago, blackcab said:

 

None at all, and consider yourself lucky you got any money back at all. All the other party had to say was you gave a nonrefundable deposit and due to your own decision to cancel you forfeited your money.

The only recourse would be if OP had whitnesses that can testify that the deposit was refundable. Doesn't sound like it though.

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1 hour ago, nailbrains8 said:

I was being told that if I didn't pay immediately I would not be able to rent the property. Yes, stupid mistake but I was under pressure and in haste made a bad decision. It happens.

last available apartment in bkk. smart move. 

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Deposit doesn't mean it is all returned.   In this case it was a deposit to give the possible Tennant time to decide.  If the entire deposit was returned then why even take a deposit.   I do admit 3 hours is a short time.     

Next time I would get a receipt that would specify a time  limit vs penalty amount and I would think 3-4x the daily  rent rate would cover the possible loss of rental income and provide you with 24 hours to decide.   

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6 hours ago, eisfeld said:

The only recourse would be if OP had whitnesses that can testify that the deposit was refundable. Doesn't sound like it though.

Witnesses are irrelevant to what might have been said if a legal contract was signed.

Typically with leases that provide some degree of refund (ie., full, partial), proper written notification for request of refund (ie., 30-days notice) and landlord response time is required, not feelings. 

In this case no reference is made to any terms of a written contract. In which the OP illegally breached the contract. A lease may require a penalty payment for breach, early termination, etc.

If no contract, without at least two independent and unrelated witnesses, 99% possession of the cash applies. Paying 3,000 THB for lessons learned is fair.

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9 hours ago, nailbrains8 said:

I was being told that if I didn't pay immediately I would not be able to rent the property. Yes, stupid mistake but I was under pressure and in haste made a bad decision. It happens.

 

What I really want to know is if there is any recourse for this? 

 

It isn't a lot of money. However, based on principle I feel like it is theft and should be addressed in some way if at all possible.

Not a hope. You were unwise. Best to move on.

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I've been in the US Real Estate market for 12 years.  A security deposit is to secure an item from being sold.  A security deposit terms (Refundable, Partially Refundable, or Non-refundable) and the time frame you have to perform the defined obligations in a contract.  I am not knowledgeable in Thai Civil Law but there is still an intent and obligation to the person providing the security deposit.  If the Landlord finds another renter in a couple of days you can attempt to negotiate the potential loss in income between when you put the security deposit down and when the other renter will take possession.

 

Always read, understand and negotiate any contract terms, anywhere in the world.  Do Not Sign anything until you fully read and understand the contract, the landlord and the tenant obligations and penalties if either side fails to perform.  

 

I wish you the best.

 

I try to educate people to keep emotions out of Real Estate.  Look at it as a business transaction.

Luckily you only paid 3,000 for this lesson.  I've seen people lose a lot of money thinking they were smarter than the market and all the other experienced RE Investors.

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I believe you were fortunate to get any money back . When you gave the deposit to the agent you made an agreement to rent the property . Breaking the agreement after three hour will have consequences .

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