What Happens if You Reserve a Property but Don’t Sign a Lease?
Leases are drafted and sent electronically to all parties for electronic signatures. You will have 5 calendar days to sign the lease and return it, electronically or in person. We will then apply your earnest money to the administrative fee and security deposit charge in the lease.
If you fail to sign the lease and return it within the 5 calendar days, the property will be put back on the market. If the property has to go back to market, causing delays in locating a qualified applicant and the start of a new lease, and another applicant is approved and pays their earnest money, your earnest money will be forfeited to Tandem. If you complete the lease and return it after the property is placed back on the market but before your earnest money is forfeited, your earnest money will be applied to the administrative fee and security deposit charge in the lease and the property removed from the market again.