How long to hold a deposit?

He's likely one of those guys who shows up months later with trailer in tow wanting to know where his car is?

There's all kinds folks out there!!!!!

 

$100 ain't much of a commitment, move on

 

Sell it, I dont put up with that stuff. He didnt full fill the contract...sell it again.

 

I wish you luck.. there should of been some sort of contract prior and have it saved for future reference.. sending a registered letter will get you the quickest response to what the next step should be.. at least its only a hold..

 

That just reminded me of some of my business law cl***es. Contract law states that however initial communication was made that is how the contract should be carried out (ie offer sent over a phone call). If a phone call is made in return than the contract is agreed apon when the phone call occurs. Yet if you respond via mail or email than it is accepted when it is recieved, if there hasnt been another acceptance before than... Just thought you might find that interesting.

Man if its only 100 deposit i would keep it and forget about the guy. He dont have the money.

 

Should have made the deposit bigger. Not worth the trouble. Sell it to the next person and send him back his deposit unless it was stated as nonrefundable.

 

Given the wildfires and such in your neck of the woods, might this guy have been caught up in that? If he has, picking up a car project could be the last thing on his mind.

email, phone, lots of things have gone down in some parts of Colorado this past few weeks.

 

Ha, ha! Yeah, that sounds like a typical Wisconsin bar situation. Everyone is gonna get rich running one. Right.
As for a deposit, the only way I've ever heard of it wasthat the deposit goes toward the purchase price. Sounds like this guy is a dud. Did he live a long ways away? Maybe transportation problems ruined the deal for him.
Tom

 

Always have a set time a deposit is good for. I give them two weeks or so from payment of deposit to pay me in full.

When I sell a car outright it comes with 30 days free storage; I don't push it if they need some extra time but if they can't be contacted I put a daily charge on it then. But you can't hit them with that until they've paid off the car.

 

This is just opinion and not to be misconstrued as legal advice of any kind.

From your description of what has happened your potential buyer has already used up his deposit. You may look at the fact that his phone is out of service and think that maybe he has fallen on hard times but for all intents and purposes from your description of the transaction i would think that he has already used up his deposit.

 

Well, My karma might be good for me. I finally got ahold of him. He was helping family evacuate from a fire in another state. Though now he cant make it out for several more weeks to pick up the car. I'm moving on to see if other interested parties can get it out sooner (before city pulls the junk car card on me). And if he gets here before then its his...

 

I think that's a fair reason to not get the car-though he could have called or written. All in all, though, forget e-mails. Use certified mail with a return receipt to show he got it. You don't need registered mail unless you've got valuables included. Certified is enough to show who got your letter and when and it's cheaper.