Need your opinion re: returning a deposit on a car transaction - Page 2 - Lateral-g Forums

Ron in SoCal · #11 03-23-2012, 10:46 AM

Quote:

Originally Posted by Flash68

I'll bet he has played this game before...

$250 deposit on a car is not much intent as you mentioned... I'd think $1000 minimum is really the mark.

Yep, he's a commecial RE broker. I reminded him this is a car, not real property and you can't just tie it up in 'escrow' while you decide how/when to fund a deal.

Quote:

Originally Posted by 69MSA

Whatever you do Ron, just make sure that this doesn't head over to paypal dispute claims. $250 is nice to have in your pocket, and probably worth the hassle of dealing with buyer #1, but that money isn't worth the hassle of paypal dispute b.s.

Glad you were able to move the car quickly though!

Matt

Thx Matt. I was shocked how quickly this deal went. I was getting 3-4 calls/day on the car from all over the world. 993 C4S's are in very high demand. Over in GER they bought them and drove them and there's not many left. Porsche decided to go to that ugly 996 design and these became instant collector cars. IMO the 997s were a return to PCAR heaven.

Ron in SoCal · #12 03-23-2012, 10:48 AM

Quote:

Originally Posted by Chad-1stGen

Sounds like a retarded buyer and the scenario I've always been worried about having when accepting a deposit.

This is why I always try to explicitly state (in writing or verbal depending on $$) if the deposit is refundable or not and the length of time the deposit buys. I'm not in the business of storage. If you don't complete the transaction in a reasonable time I'm selling it to someone else and keeping the deposit...

Well put Chad. Your post should be a sticky. Thx for your time on the phone the other day Bro...

Quote:

Originally Posted by Ketzer

You earned the money dealing with a flaky buyer. Deposits are generally understood to be non-refundable.

Now you have to decide if $250 is worth dealing with all the bitching and moaning. Also, do not count on Paypal to do right by you. That money will probably be frozen for months. They are not looking out for your interests, only theirs.

At least you did sell the car without issue the second time around

.

Jeff-

Yup. Thx Ketz...

intocarss · #13 03-23-2012, 10:50 AM

You kept up your end of the deal and held the car and he flaked.........Keep the deposit

**214Chevy** · #14 03-23-2012, 10:56 AM

Ron, with you being the "Ron" that I know, which is a straight forward and stand up guy, I know you bent over backwards to reason with the guy and tried to be fair. I say, like many others here, if the refund wasn't mentioned as refundable and the guy never held up his end of the bargain......keep it. It's clear that there was some sort of Tom Foolery on his part and he knows, or at least he should if he's of sound mind, that he didn't do right by you by breaking down the lines of communication. Although, if it seams too much of a hassle with Paypal, give it back to him, but I would even dispute it if he disputes it with Paypal. Lastly, everyone knows that most deposits are not refundable, unless it clearly states that it is. If it doesn't state it, then it isn't.

Ron in SoCal · #15 03-23-2012, 11:02 AM

Thx Jerr and Marcus!

Just got an email from his 'Attorney' ...

**Flash68** · #16 03-23-2012, 11:04 AM

Quote:

Originally Posted by Ron in SoCal

Just got an email from his 'Attorney' ...

Ron, let me send him a reply from "your atty"..

onevoice · #17 03-23-2012, 12:02 PM

I would disagree with most here. You sold the car on 3/10, and then again last sunday, which was the 18th. You didn't even wait a week before deciding to sell it the second time. Yes, I would expect someone to pay immediately, as I myself would do. But you really didn't even give him a week, and you knew he was out of the country. Unless you had an agreement to only hold it for a certain time period, I would just give him the money back and go on.

You should have told him upfront that you would not consider his $250 a deposit until he paid the entire $500. In that case, no harm no foul, and you are free to sell it out from under him. He never had an effective deposit and the right thing to do would be to hand him his money back also.

hifi875 · #18 03-23-2012, 12:08 PM

Quote:

Originally Posted by barraza

I would disagree with most here. You sold the car on 3/10, and then again last sunday, which was the 18th. You didn't even wait a week before deciding to sell it the second time. Yes, I would expect someone to pay immediately, as I myself would do. But you really didn't even give him a week, and you knew he was out of the country. Unless you had an agreement to only hold it for a certain time period, I would just give him the money back and go on.

You should have told him upfront that you would not consider his $250 a deposit until he paid the entire $500. In that case, no harm no foul, and you are free to sell it out from under him. He never had an effective deposit and the right thing to do would be to hand him his money back also.

totally disagree!! its the buyer responsibility to pay up, or atleast communicate any issues that are keeping him/her from paying up. Keep the money or make him work for it.

**Flash68** · #19 03-23-2012, 12:51 PM

Quote:

Originally Posted by Ron in SoCal

Thanks DG - BOS makes no mention of the deposit. It does state car is to be paid in full within 24 hours of execution. He missed that timeframe by a mile.

Quote:

Originally Posted by barraza

I would disagree with most here. You sold the car on 3/10, and then again last sunday, which was the 18th. You didn't even wait a week before deciding to sell it the second time. Yes, I would expect someone to pay immediately, as I myself would do. But you really didn't even give him a week, and you knew he was out of the country. Unless you had an agreement to only hold it for a certain time period, I would just give him the money back and go on.

Read Ron's previous comment on BOS stating buyer to pay IN FULL within 24 hrs.... your opinion of a week not being long enough to wait is irrelevant.

**214Chevy** · #20 03-23-2012, 01:19 PM

Quote:

Originally Posted by barraza

You should have told him upfront that you would not consider his $250 a deposit until he paid the entire $500.

REALLY!!

Quote:

Originally Posted by 509Chevelle

Ron, with you being the "Ron" that I know, which is a straight forward and stand up guy, I know you bent over backwards to reason with the guy and tried to be fair.

Like I said in my previous post. The "Ron" I know bent over backwards to help. And by Ron accepting the $250 instead of the $500 was to the buyers benefit anyway. He was doing the deadbeat a favor. Geeesh!! Let that guy be the one to not pay you and then and only then would you understand. A deadbeat buyer is only short of a liar in my book.