Asked by Anonymous
Hi, I have a question regarding the LOI. I have signed an LOI stating lease term for 3 months. And Landlord and I agreed to pay 10% of the deposit and to pay the rest at a later date. But on that day I wasn't able to pay that amount, and after 1 day, I told Landlord i will not be taking the place. And I asked back for the 10% goodwill deposit i paid, as LOI states nothing of the goodwill deposit. But after 2 days, Landloard asked me when I will pay the remaining 90%. And now he filed a claim on the Small Claims Tribunal. I would like to know I am supposed to pay even though I am not moving in anymore and even though LOI doesn't say anything about goodwill deposit.
It only says like "deposit will be forfeited if the terms stipulated in this agreement is not met". There are a few things I should point out. 1, the Landlord herself didn't sign it, her son did. 2, stamp duty only paid when he filed the claim. 3, it is LOI, not Tenancy Agreement. 4, TA was never mentioned during the LOI.
It only says like "deposit will be forfeited if the terms stipulated in this agreement is not met". There are a few things I should point out. 1, the Landlord herself didn't sign it, her son did. 2, stamp duty only paid when he filed the claim. 3, it is LOI, not Tenancy Agreement. 4, TA was never mentioned during the LOI.
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