Would you keep a $500 deposit for a car

[AB]

If you sold your car and took a $500 deposit off the purchaser and they phoned up a week later syaing they do not wish to purchase the vehicle anymore and want their deposit back would you....

A) Keep the deposit and tell them to shove it

B) Give it back to them

C) Go halves in the deposit

[Bob]

A unless she is a stunner and then maybe B

[katwoman]

A deposit is just that ! Normally non-refundable. Depending on Reason for change of mind. 'Just because' is not a reason.

[Bigrig]

If you sold your car and took a $500 deposit off the purchaser and they phoned up a week later syaing they do not wish to purchase the vehicle anymore and want their deposit back would you....

A) Keep the deposit and tell them to shove it

B) Give it back to them

C) Go halves in the deposit

Hmmm ... in the immortal words of Mr Squiggle ... "that's a tough one Miss Jane"!! lmao

Yards under their cooling off garbage etc would keep the money after that long ... not sure where you stand "legally" with respect to private sales and negotiations - I would suggest they're entitled to their money back unless you had implicitly (written) entered into an agreement to the contrary.

That said, are they going to take retribution (either taking you to court and/or burning your house down) over $500 ...

Let your heart tell you what is the right thing to do! lol (I'm dead set giggling to myself in my little office here in Sydney!!!!).

[xtreme patrol]

Happend to me last year they wanted to meet halfway about 2hr drive for us and we got a roadworthy for them too.
They came down on the train last one for the day after about one hour of looking at the car they decide not to buy it Grrrr I made them pay for our fuel and the roadworthy LOL
I still don't know how they got home lol
Andy it a depends if they have a genuine reason and there apologetic about it if not tell them to shove it and keep it.

[YNOT]

Tough question.
When someone pays a deposit on a car they are asking you to hold the car so no one else buys it. If the purchaser then calls you a week later and says deals off then as far as I'm concerned the money is yours to keep, you may have lost a genuine sale in that week with one of the other people that enquired about the car and you turned them away.

If they get an inspection done on the car and it genuinely needs work and you can't come to an agreement regarding the repairs, then I probably would refund the full deposit.

I don't know what the legal requirements are regarding cooling off periods for private sales but without a signed contract stating there is a cooling off period I don't think the buyer has any come back on you.

My answer, (A) unless they have a very good reason.

Tony

[growler2058]

Sorry guys option A for me unless they spin a real good hard luck yarn! And if you've told others it's already gone cause uve taken a deposit I'd ask for double!!!

[YNOT]

Sorry guys option A for me unless they spin a real good hard luck yarn! And if you've told others it's already gone cause uve taken a deposit I'd ask for double!!!

You're a hard man Andrew!

Tony

[04OFF]

A deposit is just that ! Normally non-refundable. Depending on Reason for change of mind. 'Just because' is not a reason.

Agree with Kat here,

As a seller, you may have turned away other potential buyers because someone "said" they would buy it, and left money to ensure you believe them.



If at any time either party can decide a deposit should get returned without condition, then what would be the point of even leaving/taking a deposit in the first place ?

[Bigrig]

Rook into your heart glass slipper ... your heeeaaart ... LMFAO!!!

[YNOT]

Rook into your heart glass slipper ... your heeeaaart ... LMFAO!!!

Someone's been raiding the mini bar!!!

Tony

[Bigrig]

Someone's been raiding the mini bar!!!

Tony

lol ... maybe ...

[Sir Roofy]

Sorry guys option A for me unless they spin a real good hard luck yarn! And if you've told others it's already gone cause uve taken a deposit I'd ask for double!!!

agree here and with the others go for A

[growler2058]

Rook into your heart glass slipper ... your heeeaaart ... LMFAO!!!

If ya don't no wot u want don't put a deposit down an buy a toymota instead hahahahahaha

Nah guys no mini bar I go sewen elewen hahahaha

[MudRunnerTD]

Tough question.
When someone pays a deposit on a car they are asking you to hold the car so no one else buys it. If the purchaser then calls you a week later and says deals off then as far as I'm concerned the money is yours to keep, you may have lost a genuine sale in that week with one of the other people that enquired about the car and you turned them away.

If they get an inspection done on the car and it genuinely needs work and you can't come to an agreement regarding the repairs, then I probably would refund the full deposit.

I don't know what the legal requirements are regarding cooling off periods for private sales but without a signed contract stating there is a cooling off period I don't think the buyer has any come back on you.

My answer, (A) unless they have a very good reason.

Tony

100% Agree

[T0nka]

B for me.

Karma is a b!tch.

[Clunk]

guess it all depends on if you've had to knock other people back or not. If it was me, if I hadn't knocked anyone back coz I was holding a deposit, I'd give it back..................... but if I'd had offers from other, I would contact the person who left the deposit and told them if they don't come and collect and pay the rest, I seliing the car to someone else and keping the deposit...... soon get's thm moving.

[big_fletch]

I would have to say 'A' Andy, unless they have a damn good reason.. When someone hands over a deposit it is well known you normally don't get it back if you back out

[captainfg]

I would go with option C, if you sell it for the full amount to someone else give them the deposit back (life is too short) and $500 is not changing your life. If you sell it for less then they were paying and the gap is bigger then $500 then they lose the $500 and such is life. But if you took it off the market and they paid a deposit, its a little like my kids say "too bad, how sad".

[patch697]

Hmmm ... in the immortal words of Mr Squiggle ... "that's a tough one Miss Jane"!! lmao

Yards under their cooling off garbage etc would keep the money after that long ... not sure where you stand "legally" with respect to private sales and negotiations - I would suggest they're entitled to their money back unless you had implicitly (written) entered into an agreement to the contrary.

That said, are they going to take retribution (either taking you to court and/or burning your house down) over $500 ...

Let your heart tell you what is the right thing to do! lol (I'm dead set giggling to myself in my little office here in Sydney!!!!).


Tough question.
When someone pays a deposit on a car they are asking you to hold the car so no one else buys it. If the purchaser then calls you a week later and says deals off then as far as I'm concerned the money is yours to keep, you may have lost a genuine sale in that week with one of the other people that enquired about the car and you turned them away.

If they get an inspection done on the car and it genuinely needs work and you can't come to an agreement regarding the repairs, then I probably would refund the full deposit.

I don't know what the legal requirements are regarding cooling off periods for private sales but without a signed contract stating there is a cooling off period I don't think the buyer has any come back on you.

My answer, (A) unless they have a very good reason.

Tony

No point in writing my opinion up cos im in full agreement with both these posts

Your not a silly man AB.....You'll do whats right either way...

[RustyNails]

I would go with option C, if you sell it for the full amount to someone else give them the deposit back (life is too short) and $500 is not changing your life. If you sell it for less then they were paying and the gap is bigger then $500 then they lose the $500 and such is life. But if you took it off the market and they paid a deposit, its a little like my kids say "too bad, how sad".

Spot on, this is the fairest thing for all

[Yendor]

My understanding is that you did enter into a legal contract with the buyer.

They agreed to purchase the vehicle, in it's stated or current condition at the agreed price.

Then you shook on the deal?

The deposit was paid to confirm the contract.

So I think it comes down to who broke the contract.

Is the vehicle condition now not as was stated or has changed from when the buyer inspected it?

Or did the buyer just change his mind?

If the buyer just changed his mind, I would keep the money

[Woof]

Me, I would go for option C as well, you got $250 and they got $250 back and everyone feels good.
I would say to them that by rights I am entitled to keep the deposit but I would not feel right about it so here is $250.

[nowoolies]

sorry id keep the money
if you took it off the market because they said yes ill take it here`s $500.00 deposit
to hold the vehicle for ..ME ..untill ...I ...get back with the rest of ...YOUR... money
and now ...I`VE ...changed my mind , how many other potential buyer`s have you lost ?????

sorry buddy you just lost your deposit !!!!

keep it Andy it`s not your problem if ...THEY... changed ...THEIR ...mind

you had sold the vehicle for all want`s and purpose...

[YNOT]

I would go with option C, if you sell it for the full amount to someone else give them the deposit back (life is too short) and $500 is not changing your life. If you sell it for less then they were paying and the gap is bigger then $500 then they lose the $500 and such is life. But if you took it off the market and they paid a deposit, its a little like my kids say "too bad, how sad".

Why would you sell the car to someone else after you have taken a deposit? You would need to have made it very clear when you took the deposit that the deal is null and void if you get a higher offer before they pay the full amount.

Tony

[Finly Owner]

I agree as above, although I am soft and bend myself sometimes. If he said i'll be back next week with balance and canned it at last moment, keep deposit and tell him you could have sold it to legitimate buyer. If you cancel lay-buy, do you get deposit back?


Tim

[GUte]

I would definatly keep it, If I poayed a deposit to someone and changed my mind, I wouldnt expect it back.

A mate has been trying to sell his R32 GTR for ages, had someone pay a $400 deposit on a saturday, to only call back on the sunday afternoon saying he didnt want it anymore, he asked for his deposit back and my mate kindly refused.

[snicko]

I would give the deposit back.

[damianovdd]

In our legal system, the deposit (deposit, earnest money - not sure if i use the right term) serves to guarantee that this product will be purchased. It promises to be bought. In case that the buyer cancel the deal, he can not search for a deposit. In case that the seller cancel the deal, then he owes the double size of a deposit. So no give back.

Looking beyond the law would say that every sale is different and is determined by many factors. Therefore, for any sale i will think about whether to retain or to give back the deposit.

[timbar]

Sorry what Deposit ????????

Dont know what your talking about ?????????????

haahhahahahahahahahahahahahahahahaha