About Ryan Dickens Expertise I am a licensed Realtor in the state of Colorado and can help with any questions regarding real estate. I am particular knowledgeable about vacation and second homes in the booming Crested Butte economy.
I made a verbal agreement (via phone call) with someone in Oct. 2004 to rent a ski house for a weekend in Feb. 2005. I sent a check for $1000 that was cashed in Nov. 2004. I never received any confirmation agreement from them. Now, I am told that the house is not available. They are willing to refund my money. Am I entitled to interest on the $1000 that they have had since Nov.? Does the fact that they accepted and cashed my check constitute any type of agreement between us?
Thanks,
Wendy Lima
Answer Hi Wendy,
Although I can not give legal advice, I can say that in some areas of this state deposits (for a purchase or security deposit) do recieve interest Unless the contract states that the interest will beturned over to another source- typically the state or county's affordable housing program.
Also, again opinion, since I am not an attorney, the cashing of a check probably does constitute an agreement.
What area was this in? Also, you may want to contact an attorney on this web site for a less vague (sorry!) answer.
Thanks,
Ryan
