I am currently selling my V8 Discovery, which as drawn some interest. I agreed a £50 deposit which a perspective buyer, who wanted to get an AA check. He has since had a change of heart and is demanding his £50. Threatening the small claims court.
I turned away some enquiries and accommodated the inspection. Where do I stand?
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Right within your rights provided you took the deposit on the understanding that he was going to buy the car. (or some other condition such as retaining an option for a few days).
Theoretically you could sue him if you had lost money because he hadn't completed the deal.
I dunno about people, what do they think a deposit is for ?
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Some people ...
Sure, pay him back in 1p pieces...
He'll have fun, won't he?
I mean, a 50 quid deposit on a car worth how much? And what does he expect?
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Put yourself in his position and then see what you think.
Hardly worth quibbling about in my view, though. He doesn't want to buy for whatever reason, so what are you holding on to his money for?
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Then why bother with a deposit at all? Surely the deposit is paid for the privilege of removing the car from the market to give the buyer the time to check vehicle, raise cash etc. As long as the seller has not withheld any nasty surprises the buyer must forfeit the deposit if he subsequently changes his mind. At least then the buyer gets compensation for his wasted time.
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Keep the deposit until you have achieved a successful sale.
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To hell with that-I'd rather burn the money than give it him back-can't believe some people, especially as he's now threatening you. The only time a person could expect to get a deposit back was if the terms of the sale you agreed upon were to be changed by the seller
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Mark will surely remember the Ben Chapman thread!
Let's just hope we don't get the would be buyer on here! Or if we do, I want to reserve a ring side seat NOW!
Mark et al is right if your story is correct. He paid the deposit and now wishes not to buy the car.
Unless he has now uncovered a genuine issue with the vehicle that detracts from what he thought he was buying, it's an open and shut case for you to keep the deposit.
If he has simply lost his enthusiasm, or has found out more about this type of car that has changed his mind (for example, that they have a less than excellent reputation for reliability etc) then he should simply shut up, walk away and put deposits down after making his mind up, not before.
Hugo
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Hugo's advice seems sound. Is it worth the hassle though ?
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Hi PU,
I agree, it is often not worth the hassle. Indie will probably be best placed to decide that in this particular case. However, I know what it is like selling a vehicle with a whole precession of tyre kickers, no shows etc, not to mention the costs involved.
I have to say that from a buyer's perspoctive though, £50 is cheap to get out of a deal that you have changed your mind on. If I were the buyer, I would have probably contacted him, apologised and asked that if he get another sale quickly would he consider refunding the deposit, otherwise keep it.
I once kept a deposit on a van sale that fell through. The buyer readily accepted that that's how things worked.
Indie should make it clear that the contract has been broken and therefore the buyer forfiets the deposit. The question for you PU, is that if the buyer does take him to the Small Claims Court, could Indie conceivably raise a counter claim for breech of contract?
Indie, what year and mileage is this Disco, and how much are you asking for it?
Hugo
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I agree Hugo.If I put a deposit on a house and then pulled out for no apparant or good reason I would expect to lose it. Indie would have a counter claim. This is where the aformentioned hassle starts. Good vehicles Discos I miss our old TD5 at times.
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If he is insistent on going the small claims court route then I would say that I was doing the same for the full price of the vehicle. Shops occasionally do this, although the publicity isn't very good.
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