Asked by Minah D
Hello
We had put up an offer to the owner's agent for a unit that we had liked. However, after one week the owner's agent called us and asked for a cheque for 1% of the offer price without even signing the LOI. She says that it is important to give this cheque before she can even put up the offer price to the seller. She insists that this is a common practice and she will return the cheque if the seller rejects the offer.Can anyone please guide me if this is indeed standard practise. It sounds a bit fishy to me.
Thanks
We had put up an offer to the owner's agent for a unit that we had liked. However, after one week the owner's agent called us and asked for a cheque for 1% of the offer price without even signing the LOI. She says that it is important to give this cheque before she can even put up the offer price to the seller. She insists that this is a common practice and she will return the cheque if the seller rejects the offer.Can anyone please guide me if this is indeed standard practise. It sounds a bit fishy to me.
Thanks
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