Stop that Check!
It’s been a bit of a crazy apartment week. When I last wrote, I had realized that my future management company was full of scammers based on an almost too late Google search. As such, I didn’t want anything to do with them. But, I’d already given them a $700 which I know wanted back — but how? Well, I was wearing my thinking cap this week so had some good news! Also, I was darn lucky.
When trying to get back my $, my first thought was that I could just cancel the check by contacting my banking institution. Easy! My second thought was that I’d given them a cashier’s check which is treated just like cash. Uh-oh
For the record, you can only stop a check if it hasn’t been cashed. The reason that cashier’s checks are preferred over personal check, is that they are guaranteed cash. If you draft a cashier’s check for $700 — that money is put, essentially, in escrow until it is deposited into someone else’s account. You lose access to it. That also means, that it takes far less time to clear, so if you need to stop it, you have less time. A money order is similar to a cashier’s check.
Thankfully, when I went to the bank the check hadn’t been cashed yet — so I could get the money back. Phew!
However, that didn’t solve the problem of the management company having all of my legal documents, SS#, and access to my credit score. If they wanted to, they could still try to ruin me if they accepted my application, I didn’t move in, and I took my $ back. As such, I needed them to reject me as an applicant. Luckily, I have *modest* writing chops — so I was able to write them a nutty enough email regarding my *finances* for them to put the can on my application. I’ve never been so happy as when their realty manager called to tell me I’d been rejected!
So, clearly, the above was a dire situation that I would not recommend you experience, but hopefully should the occasion ever arise, it will give you some thoughts as to how to correct a bad mistake. Until then, for pete’s sake, bring someone with internet access on their phone apartment hunting with you. Before you give a deposit, do some background research!
As for where I’ll be living . . . I’m meeting with a broker today. I’m curious to see what could possibly be worth 15% of my annual rent.