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You took it off the market albeit a short time based on their assurance of the rental. You may retain the money and explain that it is liquidated damages for taking the home off the market and your paperwork involved in the transaction.
Would this pertain to Missouri law as well as your practicing state?
Yes it is the fact that there is no writing and the money acts as a deposit not a security deposit per se since they had not yet taken occupancy. Is there anything in the Temp housing agreement that addresses what you get to keep, that is an agreement.
After reviewing the Temp Housing Agreement there is nowhere on the lease outside of the statement, " Should foreclosure or short sale occur, Landlord agrees to forward to CRS any refundable security deposit paid on behalf of lessee. I agree that all deposits paid by CRS less deductions for verified damages will be refunded to CRS upon expiration of the above stated term of lease. That stated term of lease is 9-07-2010 to 1-15-2012.
Please give us a minute as we read through the agreement.
Here is what we have found.
Here is what we have found.
Sorry we are having trouble with seeing this. It appears that our original question got to you.
Since the term never started yet, retain it as liquidated damages based on what i stated in the first answer. If they had paid the rent through the term then you would have been obligated to return the deposit, but they defaulted on the rent by not taking the place and you incurred damages.
I believe this answers all our questions and you have been very helpful to us. Hopefully everything will turn out OK knowing this information. Thank you again for your time and have a great evening.
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