Can Letter of Intent be nullified due to agent's mistake

[nouveaulife]

Hi,

So I signed a Letter of Intent (for rental) yesterday with an agent. The deal was closed literally just one hour after I saw the place. It was so "out of character" for me to make such an important decision without enough time to reflect and deliberate. But I was also aware of the fact that rental units get snatched up very quickly in Singapore. So it is not unusual for a deal to be closed so quickly. The agent was also pushing for me to make a decision on the spot ("There is a couple who I will be showing this unit to immediately after you. But I prefer for you to take it because you are a single person" - the agent said). So I caved in and signed LOI and put down a partial deposit.

I almost regretted immediately, if only for the fact that the decision was so rushed. I could hardly remember what the unit looked like after I signed the LOI. I also feel that I should take more time and see more places before making such an important decision.

At this point, I am ready to part with the few hundred dollars of Good-Faith deposit that I paid the agent, because I do not think they will refund it to me if I change my mind – and I don't really blame them.

However, I just realized that the agent perhaps wrote down the wrong unit number on both the receipt and the LOI. The correct unit number should be: #11-27 (I went back to the unit today to check this information). But the agent recorded #11-157 on the LOI and the receipt. I don't think #11-157 actually exists!

I do not know if the agent's number is an alternative reference to the actual unit number, or that it was just a mistake on her part.

Let us assume it is a mistake for the moment. Does it mean that the LOI should be nullified/rescinded (whatever appropriate legal jargon) because of the mistake on this crucial information?

Can I say to her something along the lines of: "The LOI should be be nullified, and the deposit must be refunded to me because the unit that you indicated on the LOI is not the one that you showed me, and therefore not the unit that I was proposing to lease"?

[x9200]

LOI is worth nothing so you may ignore it and they have to pay you back the deposit. Unconditionally. Of course it does not mean they will eagerly pay it back.
Use the search function for this forum (what you should have done in the first place) and you will learn more.

[taxico]

..."There is a couple who I will be showing this unit to immediately after you. But I prefer for you to take it because you are a single person" - the agent said...

no experienced landlord would pick a single (especially guy) over a couple for a whole unit. at least, i wouldn't.

...I almost regretted immediately...

At this point, I am ready to part with the few hundred dollars of Good-Faith deposit that I paid the agent, because I do not think they will refund it to me if I change my mind – and I don't really blame them...

Can I say to her something along the lines of: "The LOI should be be nullified, and the deposit must be refunded to me because the unit that you indicated on the LOI is not the one that you showed me, and therefore not the unit that I was proposing to lease"?

i'm sure you can but why don't you just be truthful and tell them you've changed your mind? you may use the technicality as a back up if that fails. and if that too, some how, doesn't work, at least it's just a few hundred dollars.

my LOIs are always 1 month's rent. i've never had to return it (whether rightly or wrongly) as i accept it only when i've asked the prospective tenants if they are SURE and comfortable with the place to the extent that they no longer wish to look or think about other units.

further, no potential tenant would eagerly pay a month's rent for the LOI unless they're sure. you must understand that demand is high at the moment, and landlords don't like wasting their time with property agents and their clients. we stop meeting strangers at weird hours of the day to do the rental dance when we get the LOI.

whichever way you choose, please do tell the agent ASAP.