Is this Common Practice, Any Realtors around?

[sweetpeakaris]

I have a friend who is putting an offer on a Rental Home today, and the Realtor told her to bring certified funds issued in the home owners name for the amount of the security deposit when she meets with him to do the application paperwork. Is this common practice? I would think she would pay the security deposit at actual lease signing?

BTW, she has been in contact with the homeowner and knows that the owner will accept her offer since the homeowner is the one who negotiated the monthly rent and she already agreed.

TIA!

 

[Karalea]

Yes although my check did not have to be certified.

The last time we rented a house we gave them the securtiy & pet deposit at the same time we did the application.

I totally understood why he did it that way. We were asking him to hold the house for almost 2 months until our other lease expired. I guess he wanted to be sure I didn't back out at the last minute and I didn't want them to rent the house to someone else. The deposit held the house for me.

Now that I think about it..he did not cash our check until we received the keys and were ready to move in.

 

[sweetpeakaris]

Thanks! I guess she can't take it today since the Banks are closed.