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Kimchifart
Joined: 15 Sep 2010
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 Posted: Tue Dec 13, 2011 10:15 am Post subject: If you put key money down on a place and don't like it... |
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If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Tue Dec 13, 2011 12:40 pm Post subject: Re: If you put key money down on a place and don't like it.. |
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| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
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Kimchifart
Joined: 15 Sep 2010
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| Posted: Tue Dec 13, 2011 12:47 pm Post subject: Re: If you put key money down on a place and don't like it.. |
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| ontheway wrote: |
| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
OK thanks dad. Believe it or not Ive lived in a lot of places in my life and have had landlords lie and cheat and breach contractual agreements on a number of occasions. Therefore I just need to know what the legal position is. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Tue Dec 13, 2011 1:10 pm Post subject: Re: If you put key money down on a place and don't like it.. |
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| Kimchifart wrote: |
| ontheway wrote: |
| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
OK thanks dad. Believe it or not Ive lived in a lot of places in my life and have had landlords lie and cheat and breach contractual agreements on a number of occasions. Therefore I just need to know what the legal position is. |
I've run into a few dishonest landlords as well, so it's best to check things out a bit if that $20,000 you plan to hand over is significant to you, Mr. Romney. |
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litebear
Joined: 12 Sep 2009
Location: Holland
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| Posted: Tue Dec 13, 2011 1:15 pm Post subject: Re: If you put key money down on a place and don't like it.. |
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| ontheway wrote: |
| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
Was this part of your response really necessary? He didn't say that he was upset with the system he just wanted to know where he stood. I can't stand posters like World Traveller or Dodge but needlessly antagonistic responses like this just give them the opportunity to widen the gap between pro/anti Korea posters even further. |
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big_fella1
Joined: 08 Dec 2005
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| Posted: Tue Dec 13, 2011 2:32 pm Post subject: |
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If you do end up putting down 20 mil be sure to register it at your local supreme court registry office. It only costs 600won but ensures that you are on the list to be repaid if things do go wrong after the government and any mortgagees.
It is easy to do a credit check on the landlord if you understand Korean, but if you don't you need someone you can trust to do it for you. I'm paranoid but that isn't the agent for me.
If you don't like it as stated you need to find another tenant and pay the agency fees. If it is 20 million getting an English teacher to take it over may be difficult. It's best to make sure you like it and your position is secure for the one or two years of your contract. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Tue Dec 13, 2011 4:26 pm Post subject: |
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| big_fella1 wrote: |
If you do end up putting down 20 mil be sure to register it at your local supreme court registry office. It only costs 600won but ensures that you are on the list to be repaid if things do go wrong after the government and any mortgagees.
It is easy to do a credit check on the landlord if you understand Korean, but if you don't you need someone you can trust to do it for you. I'm paranoid but that isn't the agent for me.
If you don't like it as stated you need to find another tenant and pay the agency fees. If it is 20 million getting an English teacher to take it over may be difficult. It's best to make sure you like it and your position is secure for the one or two years of your contract. |
Supreme Court???? |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Tue Dec 13, 2011 5:55 pm Post subject: |
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| Stan Rogers wrote: |
| Supreme Court???? |
Thats right. I did exactly this just a couple weeks ago. It was a simple 5-minute procedure at the front desk of their local office. |
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Kimchifart
Joined: 15 Sep 2010
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| Posted: Wed Dec 14, 2011 6:10 am Post subject: |
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| big_fella1 wrote: |
If you do end up putting down 20 mil be sure to register it at your local supreme court registry office. It only costs 600won but ensures that you are on the list to be repaid if things do go wrong after the government and any mortgagees.
It is easy to do a credit check on the landlord if you understand Korean, but if you don't you need someone you can trust to do it for you. I'm paranoid but that isn't the agent for me.
If you don't like it as stated you need to find another tenant and pay the agency fees. If it is 20 million getting an English teacher to take it over may be difficult. It's best to make sure you like it and your position is secure for the one or two years of your contract. |
Thank you, this is helpful information and is what I was looking for.
So I take it from this that the deposit is underwritten by government? If the landlord doesn't pay me after fulfilling a contract, they will?
If not, the system seems a lot more insecure than I was expecting; I was thinking that it would be underwritten in case of anything going wrong.
I've not seen that many places on Craigslist in Seoul that don't require a deposit. Its a bit worrying really. |
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Kimchifart
Joined: 15 Sep 2010
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| Posted: Wed Dec 14, 2011 6:17 am Post subject: Re: If you put key money down on a place and don't like it.. |
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| ontheway wrote: |
| Kimchifart wrote: |
| ontheway wrote: |
| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
OK thanks dad. Believe it or not Ive lived in a lot of places in my life and have had landlords lie and cheat and breach contractual agreements on a number of occasions. Therefore I just need to know what the legal position is. |
I've run into a few dishonest landlords as well, so it's best to check things out a bit if that $20,000 you plan to hand over is significant to you, Mr. Romney. |
I really don't understand the reference to Mitt Romney. Can't you just stay out of threads when you don't have ANYTHING helpful to say whatsoever? |
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fermentation
Joined: 22 Jun 2009
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| Posted: Wed Dec 14, 2011 8:27 am Post subject: |
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| It's not easy to end it early. Landlords will find an excuse to not return your money back even if you leave on the decided date. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Wed Dec 14, 2011 9:23 am Post subject: Re: If you put key money down on a place and don't like it.. |
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| Kimchifart wrote: |
| ontheway wrote: |
| Kimchifart wrote: |
| ontheway wrote: |
| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
OK thanks dad. Believe it or not Ive lived in a lot of places in my life and have had landlords lie and cheat and breach contractual agreements on a number of occasions. Therefore I just need to know what the legal position is. |
I've run into a few dishonest landlords as well, so it's best to check things out a bit if that $20,000 you plan to hand over is significant to you, Mr. Romney. |
I really don't understand the reference to Mitt Romney. Can't you just stay out of threads when you don't have ANYTHING helpful to say whatsoever? |
Mitt Romney recently made an offhand offer to bet $10,000 indicating that such an amount is insignificant to him - on the order of most of US making a bet of $10 or even $1 dollar.
Your desire to bet $20,000 without taking personal responsibility for the decision indicates that you might have a similar disregard for the value of what most people would consider large sums. However, your desire to have some authority figure guarantee your funds indicates that you not only are unwilling to take personal responsibility for your decisions, but you want your mommy to hold your hand and give you back your candy money if you lose it. |
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yodanole
Joined: 02 Mar 2003
Location: La Florida
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| Posted: Wed Dec 14, 2011 10:44 am Post subject: |
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I consider a soju crazed noraebang addict neighbor a bonus.  |
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Ibsen
Joined: 09 Dec 2011
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| Posted: Wed Dec 14, 2011 12:14 pm Post subject: Re: If you put key money down on a place and don't like it.. |
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| ontheway wrote: |
Mitt Romney recently made an offhand offer to bet $10,000 indicating that such an amount is insignificant to him - on the order of most of US making a bet of $10 or even $1 dollar.
Your desire to bet $20,000 without taking personal responsibility for the decision indicates that you might have a similar disregard for the value of what most people would consider large sums. However, your desire to have some authority figure guarantee your funds indicates that you not only are unwilling to take personal responsibility for your decisions, but you want your mommy to hold your hand and give you back your candy money if you lose it. |
Are you that much of a miserable person? Is it really necessary to repeatedly kick someone when they are down after then have already admitted defeat? Obviously he is in a bad situation and is probably stressed out because of it. Yes it was his mistake and he will have to suffer the consequences, but there is really no need to rub salt in his wounds especially if you add nothing to the discussion. He asked a simple question looking for a simple answer, not to be insulted by someone who knows nothing about him and has absolutely no business in his affairs...
Either way, I myself know nothing about this situation, good luck to you OP. |
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Kimchifart
Joined: 15 Sep 2010
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| Posted: Wed Dec 14, 2011 12:21 pm Post subject: Re: If you put key money down on a place and don't like it.. |
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| ontheway wrote: |
| Kimchifart wrote: |
| ontheway wrote: |
| Kimchifart wrote: |
| ontheway wrote: |
| Kimchifart wrote: |
If you put key money down on a place and don't like it...is it easy to get out of the contract, or much like our wonderful employment contracts, is it a stressful nightmare?
Just wondering, if I put 20,000,000 down on a place then find out my neighbour a soju crazed noraebang addict I'm going to want to get my money and run. |
Sure. You only have to find a new person who will take over your place, pay the realtor's fees, and wait till the new person pays his key money to get your refund.
Why should it be otherwise? Check it out before you sign a contract and pay. Take responsibility for your decisions and accept the consequences. |
OK thanks dad. Believe it or not Ive lived in a lot of places in my life and have had landlords lie and cheat and breach contractual agreements on a number of occasions. Therefore I just need to know what the legal position is. |
I've run into a few dishonest landlords as well, so it's best to check things out a bit if that $20,000 you plan to hand over is significant to you, Mr. Romney. |
I really don't understand the reference to Mitt Romney. Can't you just stay out of threads when you don't have ANYTHING helpful to say whatsoever? |
Mitt Romney recently made an offhand offer to bet $10,000 indicating that such an amount is insignificant to him - on the order of most of US making a bet of $10 or even $1 dollar.
Your desire to bet $20,000 without taking personal responsibility for the decision indicates that you might have a similar disregard for the value of what most people would consider large sums. However, your desire to have some authority figure guarantee your funds indicates that you not only are unwilling to take personal responsibility for your decisions, but you want your mommy to hold your hand and give you back your candy money if you lose it. |
Personal responsibility? Are you a real person? What are you talking about? I'm trying to find out a.What the situation with deposits are and are they secure. and totally separately, b. What's the situation if I need to leave the accommodation before the end of a contract because of a reasonable reason.
I honestly can't believe how rude and unhelpful you are being. |
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