Vacation condo rental deposit online, didn’t sign contract yet. Should I be able to cancel without penalty?
I'm sure the realtor will say "no," but I haven't signed the contract. I'd appreciate hearing from a realtor or experienced vacation condo renter before I call.
By paying the deposit, you probably agreed to be legally bound to the deal. However, most have an "out" that you can cancel within a certain amount of time before the rental without losing anything. Some will even give you your entire deposit back if you give enough notice. The closer it is to the date, the more you stand to lose. Was there not fine print when you paid the deposit? That is what you are bound by.
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Tagged with: condo • renting timeshare • Timeshare info • vacation
Filed under: Vacation condos
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Gawd, some people around here have no clue what they are talking about.
Vacation rentals do not fall under landord/tenant laws. They fall under hotel laws. The owners even have to pay the hotel tax in their city on any rental. (same amount per night for the whole city).
You can cancel within one month of your rental for a full refund. If you cancel in a shorter time frame then that the condo can keep the first nights rent. Hotels do teh same thing, why do you think why want your credit card number to make a reservation? It is is charge you if you flake on them.
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There is a cancel period for several days for any contract depending on the state. Especially if you are not of legal age. You will have to call a lawyer in the state where the real estate exists.
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If you haven't signed the contract, then there is no contract.
Real estate is different, you CANNOT have a verbal agreement in real estate vs other types of purchases so you are not legally bound.
She has to return your full deposit, unless there was an application fee, etc that was disclosed UP FRONT.
Next time, don't send a deposit without seeing the contract first.
References :
By paying the deposit, you probably agreed to be legally bound to the deal. However, most have an "out" that you can cancel within a certain amount of time before the rental without losing anything. Some will even give you your entire deposit back if you give enough notice. The closer it is to the date, the more you stand to lose. Was there not fine print when you paid the deposit? That is what you are bound by.
References :