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Smart Shopper Questions About Private Sale Transactions
236 messages, Last post on Nov 20, 2009 at 5:18 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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If a potential buyer gives you a deposit to hold a car until Wednesday and as of Saturday has not shown up is it fair to sell the car to someone else? If the understanding was that the deposit was non-refundable, what would you do if the first buyer showed up later looking for the car?
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Replying to: oldfarmer50 (Jan 23, 2009 3:57 pm) Yes. It'd be nice on your part to call or email and offer one last chance, but there's a reason it's called a "deadline." "If the understanding was that the deposit was non-refundable, what would you do if the first buyer showed up later looking for the car?" Depends. If I got the same price from the next buyer, I'd refund the money; if I got $200 less, I'd refund the deposit - $200. You provided a service: You kept the car of the market until at least Wednesday, and you have now way of knowing what that action cost you. -Mathias |
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Replying to: oldfarmer50 (Jan 23, 2009 3:57 pm) As for the deposit itself, I'd just sell the car to someone else, if someone is ready to buy it, and send him his money back--unless you had to re-advertise the car right now, and have no buyer, and in that case the ad money should come out of the deposit. |
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| Don't keep the deposit.. It won't be worth the hassle.. Life is too short for that kind of grief.. | |
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I'm in CA. I sell my car, we meet at his bank and he gets us a "cashier's check" infront of us and we do the signing. (title). How do I know that the check is really good? I.e. we do the deal on Friday and on Monday he puts a stop payment on it? My bank may then tell me weeks after that it hasn't cleared? What's the safest way to do it? Cash from the teller would be the safeway way, but then it's dangerous to travel with all of that cash to my bank. (plus the buyer knows I have 15K in cash on me....).
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Replying to: kiawah (Feb 28, 2008 1:04 pm) In the past, when I paid off Honda Finance it took 2+ weeks to get the clean title to me. I heard a dealership will do it for you for a fee? |
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Replying to: aak1 (Apr 17, 2009 1:59 pm) Go to his bank with him and have him write a check to you and then you cash it, or have him write it out to cash, and he gets cash and gives it to you. Then you fork over the title, signed You only need a cashier's check when the two parties are not together at the bank. It's either cash deal or you take HIS cashier's check to his bank or Branch Office and verify that it's good. It's very hard, darn near impossible for a bank to refuse to pay a cashier's check, since it's already been paid for, UNLESS it is a counterfeit check or unless they made an error in issuing it. But if you SEE him buy it, there's no question about cashing it. So once it's verified as real, you're pretty safe. |
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Replying to: aak1 (Apr 17, 2009 1:59 pm) |
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I'm new here and I hope this is the proper place to put this. If not sorry. Would I consider this a private sale or dealer when looking up the values at kbb or edmund? A search of his phone number on google comes up with 2 cars in March and a search of the paper shows 2 cars including one I'm interested in looking at. He doesn't have a lot according to him. So it seems he's just operating out of his house. I think he wants more than a dealer would want now. He also wasn't sure of the model car. He told me it was a LS and when I've looked it up the Pontiac Grand AM the models are GT and SE. He says GT only comes in 2 door. So he isn't too knowledgeable about the car. Here's the ad: 2000 Pontiac Grand Am AT, AC, CD, 4 dr, V-6. Red w/gray int. 34K act. $5500 Also, I asked him about getting it checked out by a mechanic. He said "fine, if you want to waste your money. You won't find anything wrong. It only has 34,000 miles". This raises a red flag with me. I'll get a carfax report if I like it when I see it tomorrow. Any other hints. Sorry so long. |
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Replying to: 2kids3cats (Apr 22, 2009 5:49 pm) Same here. I would look elsewhere.  tidester, host SUVs and Smart Shopper |
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