Did you tell the guy his deposit was non-refundable?
I'm selling a car and this guy wires deposit money for the car, then decides to back out claiming he wants a nicer version than mine, AFTER he's seen a ton of pictures, and consummated the deal.
Would you feel obligated to send the deposit back?
it would seem he gave you money to hold the vehicle as a form of pre-payment.
i don't think i would refund the money. to me a deposit means i have made a verbal or written contract to purchase that specific vehicle. did you write him a receipt for his deposit or have written correspondence about the deposit beforehand?
A deposit is assurance to the seller that your time has not been or will not be wasted. Backing out of the deal at this point in the sale certainly seems like a waste of your time to me. Retaining the deposit would seem like payment for your wasted time, depending on how much he gave you up front. Enjoy your paycheck!
Discussion when I sent the wire info. He's from NY and I'm in the midwest. My words were "It's not refundable. If you decide you want a blue car tomorrow, it's not my problem."
Since the car has been "off the market" I've received calls that I've had to refuse.
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Am I the only one who smells a scam?
You say he wired the money... what service did he use? Any chance the money might be discovered a fraud and disappear from your account?
Seems like a straightforward scam.
1. Use forged money order or cashiers check as refundable deposit on a car, claiming to be an out of state buyer
2. Ask for refund before the seller's bank takes the hold off the deposit
3. If the seller writes a legit check as refund, you've just made a profit
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