Return Deposit?

[skargo]

Re: Return Deposit?

If it were me, I'd tell him to go screw himself, and give the money back. I have no time for idiot's games.

 

[jd_1598]

Re: Return Deposit?

I would tell him he has 2 choices

1. Finish the agreement, pay the remainder of the balance of $2000.00 or

2. I will take the $500.00 deposit for me holding the boat for 30 days, and return the $1000.00.

your choice.

(unless agreed prior too, deposits on not refundable)

I saw this on People Court on Thursday.

Jim

 

[IVAZ]

Re: Return Deposit?

If it were me, I'd tell him to go screw himself, and give the money back. I have no time for idiot's games.

Same thing some of the others and me said but, you said it better.
I like it.

All checks were made out to me. On the first $500 check, he wrote something like "$500 deposit of $3500 due".

I just emailed him his two options:

1. Pay the balance in full and pick up his boat and title.
2. I will re-list the boat, and give him his $1500 when it sells

We will see.

I wish I had the patience to deal with idiotic people. Good luck and best wishes.

 

[duscarter]

Re: Return Deposit?

In response to my two options, he wanted to negotiate the price or lawyer up. I told him that was no problem, because I work with several that have informed me of my rights. Court is a PIA, and who has the time.

I took the suggestion of some of the members here and knocked $300 off just to get it over with. The market for projects is not that big, plus it is getting late in the season. Monday is the deadline.

Happy boating this weekend. Hopefully the rain stops here.

 

[jdlough]

Re: Return Deposit?

If he does buy it, make sure he gets no "extras". No anchor, no rope, no manuals, no other goodies, no information you know on how to help him on the project.

 

[lowkee]

Re: Return Deposit?

Problem is , that "nothing was written" is a potential problem.
He can claim you agreed to sell it for $1800.!

What $1,800? I think the guy went gambling, lost, and now is trying to dupe this random unsuspecting seller. Nothing in writing works both ways.

The reason to get things in writing is to cover your butt when poeple becomes headaches like this. You can't prevent the headaches, as you can be taken to court for absolutely anything.

As for what to do, if you can easily sell the boat to someone else (if it is really worth what you are saying, you can) I would return the money and tell him to never contact you again.

 

[Maclin]

Re: Return Deposit?

How this turns out has many variables centered around the method of payment and that status.

Here is my advice based on some real world events I have seen or touched:

• Do you still have the checks? If so just give them back and start over.
  
• Did you cash the checks at his bank or other facility (not your bank)? If so then give him back the $1500 and start over.
  
• Did you deposit the checks in your bank? If you did, well, giving him cash back without making sure they have cleared HIS bank would be like paying him $1500 for looking at the boat. His bank can refuse to fund the checks and then your bank debits your account, this can happen like a month later.
  
• Did you cash the checks at your bank? This is like guaranteeing the checks with your own account's funds. Your bank can debit your account if they do not clear his bank. Again, this can happen way after you may think it can.

BE SURE TO GET A SIGNED AND DATED RECEIPT IF YOU GIVE CASH BACK.
As you can see, my theme is get him straight on his money and start again. And next time do not be a banker unless you do not need the money!

 

[roscoe]

Re: Return Deposit?

Keep the money, sell the boat to someone else.

next time put everything in writing.

 

[jonesg]

Re: Return Deposit?

All checks were made out to me. On the first $500 check, he wrote something like "$500 deposit of $3500 due".

I just emailed him his two options:

1. Pay the balance in full and pick up his boat and title.
2. I will re-list the boat, and give him his $1500 when it sells

We will see.

if you re-list the boat, you have no right to hang onto his money.

Let go of it (the money), problem solved,

or hang onto it and keep ruminating (obsessing) over it.

 

[jonesg]

Re: Return Deposit?

Keep the money, sell the boat to someone else.

next time put everything in writing.

And we'll cover the legal expenses?

I sold my buisiness 5 yrs ago , girl gave me a $500 deposit until we could get a P&S agreement, I had an agent and he got into a tiff with her for going behind his back. So we get everything set up but she's a no show for the closing, I'm still holding the $500 check.

Agent says "cash it, screw her".

I tore it up.

Legally it was non-refundable, but when you deal with amateurs trying to conduct business you are far better off cutting them loose clean because they are stupid and will cost you more in legals and time lost.

It eventually sold for $30K less, I lost $30K just like that, but I didn't lose sleep over it , we can always "make" money but can never make time.

Life can be so simple ,
but if you think with your heart and you end up smackin yer head against the wall.

 

[captharv]

Re: Return Deposit?

+1 on returning the money and starting over IF he don't come across on Monday.
I sold a boat 20 years ago. The man had his wife and 2 friends along when we took it out for a demo run. He gave me a $100 deposit. I made out a sale agreement listing the check for $100. The check bounced. I called him and he put his mother on the phone, and she tried to knock down the price. I simply stated that we had a sales agreement signed by both parties. I received a lot of calls after we did so, and I told them it was sold. So, being it owuld cost me money and time to re-sell it, I am going to turn over the check to the sheriff. They came down within an hour with the cash, and we closed the next Friday.

My friend lived on a lake and had an 18' bowrider. He wanted a larger boat, so he listed it in the paper. A man called him who lived on the lake at teh other end of the chain, who bought it after a demo ride. They had notorized bill of sale made.
About a month later, the EPA cops come knocking at his door. The buyer sank the boat, and there was oil laeking out. They would have arrested him right there if he did not have the sale instrument.
I am not a Lawyer, but I did get some business law in College.
In a bill of sale list: (Make a copy when each event takesplace)
Purchase price.
The fact that it is being sold as-is, where-is, and no warranties implied. VERY powerful legal terminology.
Buyer and seller full names, address, etc. They can still come after you if there was a defect you knew about and did not disclose, but this ststement shows you are not implying any type of warranty. And if you do a demo ride, note that no problems were found, and the operation was satisfactory to both parties.
If a deposit was tendered, note it, with date and time.
When paid in full, note that with date and time.
If you "deliver" it to his place, or if he picks it up, note that with date and time. This shows when the physical transfer took place, and its no longer your responsibility.

BTW: I did a search on Uniform Commercial Code, adn it said that $5000 is where a contract of sale MUST be in writing. Below that, without paper, you don't have a leg to stand on.

 

[duscarter]

Re: Return Deposit?

We negotiated a price. I knocked off $300 to get this done and over with today. What would you more experienced boat sellers get in addition to the bill of sell?

I am looking for something to get him to sign, so that I don't have any future issues. Thanks.

 

[rockyrude]

Re: Return Deposit?

On the bill of sale state plainly that the sale is an as-is where-is sale with no warranties express or implied. That way he can't come back later and hound you for something he broke.

 

[BF]

Re: Return Deposit?

geeze no paper?? Hope you won't make that mistake again! With no paper, I'd tell him to come get your money, and have him sign a receipt that he received refund in full. When told that, he might just say "never mind, I'll come back with the rest of the cash."... Sounds like you could get $3500 for it anyway, so why cut him any deal for being a @#$%. Did you know you wouldn't be paid even a month later?? Basically you're giving him free storage.

If you had done the paper properly, it would've been "tough luck". BTW, any time I take a deposit on something, I ask when they'll come pick it up and pay the balance.... I give them a couple extra days, but on the receipt I write that if the item is not picked up and paid in full by that date, the purchaser agrees the forfeit the deposit and any claim to the item, and the seller is free to re-sell the item" I also write on there how balance of payment is to be made (e.g. cash or certified cheque). We both sign the paper work, and we both get a copy. I tell them they won't be taking anything away with a personal cheque.

I'd never take a deposit and leave the pickup date and full payment date open ended. The reason I sell stuff is to get rid of it, not store it for someone!