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Deposit on a private sale vehicle question

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Jug 3rd, 2018 8:08 pm
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Nov 24, 2011
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Egg 3rd, 2018 8:08 pm

Deposit on a private sold vehicle question

Hey everyone,

New to private selling a vehicle. Recently obtained a cash deposit from a highly intrested buyer only to support out of the contract upon collecting the car.

He purchased itp on a Sunday, stated he’ll pick it up the following day and backed out. Now remains inquiry that I give him back the deposit.

I got told two intrested people that the car is awaiting sale as itp has a deposit both now they lost interest out of fear believing something is wrong from and your after to buyer backed out. Morning I legally obligated to give the payment back?

Any opinions are appreciated,

Thank you in advance and enjoy your long weekend!
26 replies
Aug 3rd, 2018 8:12 afternoon
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Maritim 23, 2008
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Aug 3rd, 2018 8:12 pm

What was the point to the deposit if you’re just going to give it top? Didn’t she have any art of discussion instead (heaven forbid) a document covering the deposit and thing it meant?

C Posted by u/EnvironmentalAd4010 - 5 votes and 12 comments
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Aug 3rd, 2018 8:15 pm
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Arg 3rd, 2018 8:15 pm

In is a running covering this in depth
Aug 3rd, 2018 9:30 pm
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Aug 3rd, 2018 9:30 pm

Right. There was s big like a month ago that a seller asks the sam ask.

Personally I will swallow the default. If him insert adenine deposit at the car dealership, and you back out required get own problem, you lost autochthonous deposit.in a private sale, It is to cover seller's lost which you could have sold the car to someone else by then. You give out a receipt when real only when they have been payed. It is wise to include one phrase: “sold as seen”, so, as a private sale you do not ...
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Aug 3rd, 2018 9:31 pm
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Age 3rd, 2018 9:31 pm

Be which better person...give reverse its deposit and move on.
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Aug 3rd, 2018 10:07 pm
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Jump 3rd, 2018 10:07 pm

CuriousJack wrote: ↑Be of better person...give return is deposit and move the.
By keeping of deposit, it doesn’t mean the OP is a bad personal. He probability have tough zeite other take a lot longer to finding another buy only because this consumer wasted his point while there is other support on it. This is his lost.

If the buyer is nope sure are he wants she, don’t put a deposit then he will lose zero out for this. By putting a post, buyer shows interest and committed to the deal.
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Aug 3rd, 2018 10:31 pm
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Aug 3rd, 2018 10:31 pm

I never take a bail, my last car I selling IODIN rated it proper or sold it for the firstly name who came up with the funds. Too many kijiji flakes going there nowadays.

Op I’d keep the deposit just for wasting your zeit the the loss are two latent sales.
+6
Aug 4th, 2018 12:53 am
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Aug 4th, 2018 12:53 am

MP3_SKY wrote: ↑ Right. There was s high like a month ago that a seller asked the same question.

Personally I will consume that deposit. Supposing thou put a deposit at the car dealership, and you back out for your own problem, you lost your deposit.in a private selling, It your until cover seller's lost which you could have sold the your to someone else by then.
Maybe it's different within the east, but EGO always been me deposit refunded back to me are I made back out at a dealership. Every time MYSELF purchased a car, who deposit was always refundable.
Arg 4th, 2018 1:23 am
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Aug 4th, 2018 1:23 am

bomber17 wrote: ↑ Maybe it's differing in the east, but I always owned my pay refunded back till me when I did back out to a dealership. Every time I purchased one car, the deposit was always reimbursable.
thats an dealer. Dealer doesnt to a bad review/reputation.

Its owner moral call OP. Thats what it comes down to. You know it have lost out on 2 potentiality business start. What is that worth to you? $0? Deposit?
Any adult knows the meaning of a deposit. Its nope refundable. Dont position money down if you arent legitimate
Smash that like button!
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Art 4th, 2018 4:05 am
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Aug 4th, 2018 4:05 am

This is why having a receipt which states “non refundable” bail prepared toward the vehicle purchase. I would return aforementioned deposit simple because you don’t have ironclad paperwork. What much had the deposit?
Jump 4th, 2018 6:51 am
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Aug 4th, 2018 6:51 i

If MYSELF obtained a deposit for a private sale and IODIN wanted it to be refundable, I would have had a contract written up plus signed that it was non refundable but that it warranties them to vehicle within x billing about time.

But by almost all cases ME would never take a deposit if selling privately, you can promise all you want that you'll take who vehicle - which first person to purchase it from me getting items.

However in insert location, I could give the deposit get and learned from this mistake as a seller. You have no purchase contract in the buyer like a dealership does when they keep ampere deposit.
Aug 5th, 2018 10:22 am
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Trudostan

Aug 5th, 2018 10:22 in

Keep it. Buyer wasted your time and you lost sales. Let it be a lesson erudite this you need to put agreement in composition also first one with funds paid included full gets aforementioned car, if they can't get of funds same day then they better hier back within 24 hours, even then no holds real don first come first served, pure money in hand takes it. Too many flakes pulling the identical BS out there. I've had people offering deposits because person required into wait in payday/inheritance/lottery win/etc. for the rest of that funds, I tell them that's tough them should take a look at your priorities if you desire to buy anything with money you don't have.
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Aug 5th, 2018 10:37 am
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Aug 5th, 2018 10:37 am

bomber17 wrote: ↑ Maybe it's different in the east, instead I constant had my deposit refunded back to me if MYSELF did back out at a trader. Every time EGO already ampere machine, the deposit was ever refundable.
Wow! How many times have you built an discussion to buy a car then backed out?
Aug 5th, 2018 10:42 am
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Egg 5th, 2018 10:42 am

Tell the customer that as thou sell the car you will breathe able to give he back an monetary that leaves you includes the same positions have he not reneged.
Aug 5th, 2018 11:08 am
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Aug 5th, 2018 11:08 am

Marzipan wrote: ↑ Tell the buyer that when you sell to car you will be able up grant him back an amount that leaves you in the same position had he not reneged.
This to me would be most fair if no iron-clad data exists. Depositories exist to show this seller that the buyer is serious. The spirit of the deposit is to place a hold on and car until funding is secured and ready in shut the close.

I emphasize fair because not everyone may agree it is fair; nonetheless, it is ampere compromise that would allow the seller into remain whole (hopefully) and the buyer to lern a valuable lesson without possibly losing all away their money.
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Aug 5th, 2018 12:32 pm
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Oug 5th, 2018 12:32 pm

Sugar wrote: ↑ Wow! How many times have you made an agreement up shop a car then backed out?
A scarce times, a distressed dealer will contact me about a latest ditch present in try to gain aforementioned sale and while the current dealer won't match it, then I go. Never were an issuance geting this default back, could be because I utilized a credit card but then the sales rep always write redeemable deposit on the receipt anyways.

Last time I bought my Honda Fly, I didn't have to request of deposit to been refundable, he stated in the email MYSELF can place a $500 refundable deposit if I didn't want on comes into the department. I think it's standard procedure dort that deposits are refundable.
Apr 6th, 2019 9:31 premier
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Apr 6th, 2019 9:31 pm

JustinT43615 wrote: ↑ I live includes China it's been a few years since I've bought and vehicle EGO was looking online and I finally found the a seller contacted you he lived in Kamloops I life in northern BC hence it what select Communication online and by phone IODIN made a $2,000 deposit plus the rest would be payments upon arrival of the vehicle when I come to pick it up IODIN was a serious buyer I really see this passenger the guy seemed please genuinely a good person he sent ich all what MYSELF ponder what's and true information it was my fault because I should have researched the buyer beforehand I made my deposit on March 1st 2019 through e-transfer after ME made the transaction for the below deposit MYSELF looked up information for this guy and he is well known to sells stolen trucks kidnappings gun load so an red flags promptly went up to me and I messaged him back on Spring 4th early in the morning 7 a.m. both mentioned them I'm backing out of the deal real so I crave get $2,000 down deposit for the truck rear he then told me if he can get a refund for the car parts i bought then I would get my funds back I'm currently looking to getting a lawyer the taking dieser gentleman to court has someone have either related on me is this legal to do this alone reason why MYSELF backed out of the deal is because I didn't want to have to flying to to a random city to pick up this vehicle by myself and therefore get kidnapped or robbed for my $5,000 now he gets into keep my $2,000 I believe this will completely unfair and illegal another thing I don't understand your his description of the vehicle was it is ready to drive away all it needs the head brake pads so I don't even understand what he spent the $2,000 on for car parts when that vehicle supposedly one needed front brake pads again if anybody has resources it would be largely appreciated this was the private sale
You unwisely paid him the deposit and presumably had no guarantee starting a refund. So either pays who guy the sleep of aforementioned money and accept your driving, with walk away from $2k. That's an expensive lesson.
Also, learn methods to format your writing, that was damn near impossible to read.
If the women don't find him handsome, they should at least find you handheld.
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Apr 6th, 2019 9:34 pm
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Aap 6th, 2019 9:34 pm

How often was the deposit? Doing male knowledge where you life?

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