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가계약 - putting a hold on a house
« on: December 10, 2019, 01:24:28 pm »
So I paid 1 million to put a hold (가계약) on an officetel (월새) and agreed to sign the contract in a few days. Does this mean I have committed to sign the contract or am I still able to back out if I were to find another place? Also any chance I can negotiate the rent? Thanks for your help.
« Last Edit: December 10, 2019, 01:29:28 pm by AngryTypingGuy »

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  • SPQR
  • Super Waygook

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    • March 08, 2018, 07:04:54 pm
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The 가계약 is like a deposit, right?  Why would you drop 1M on
a place if you're not sure you're going to live there?  Did you at
least do it with a real estate agent?

Worst case scenario is you are tied in to living there or you lose
your deposit.  Probably what will happen is if another prospective
tenant pays 1M deposit, you will get yours back.

Working through a real estate agent is the best way to go because
they have their license to think about.  A private deal is worse.  The
owner will do what is best for him/her.

Re: 가계약 - putting a hold on a house
« Reply #3 on: December 10, 2019, 02:24:15 pm »
It was with a real estate agent not the owner

What paperwork if any do you have from paying that 1 million won?  If it was only verbal, then you should get it back. 

Did you meet the owner in an estate agent's office and sign the contract and agreeing to send the rest of the money minus the deposit you paid + rent on the moving day? 

You should do all your rent negotiations before you pay the deposit.  I did anyway.  I contacted the agent about reducing the total deposit to 5 million from 10 million.  Owner agreed.  I paid 1 million to the estate agent the next day (I could have only paid 500 000 won, if I wanted).  A few days later, when I knew my moving date, I met with the owner and the estate agent and signed the contract and agreed the moving date.  On the moving date, the rest was transferred including one month rent and I got the key cards etc.  The week after that I paid the estate agent bill for about 260 000 won or something like that. 

If you are still at the first phase where you've paid the deposit but not signed anything then it's not considered a cancellation fee and you should get it back.  If you went and signed with the owner and the estate agent and then agreed and moving date and everything and then pulled out then that'd be a cancellation fee.   
« Last Edit: December 10, 2019, 02:50:44 pm by Ronnie Omelettes »

  • OnNut81
  • Expert Waygook

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    • April 01, 2011, 03:01:41 pm
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When I paid a million deposit for my current place it was with the understanding it was a non-refundable deposit.  I was obviously free to back out but I wasn't getting any money back.