SavagePower
Senior Retro Guru
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Hi all,
Your thoughts on this one please guys...
18 moths ago a buyer saw one of my collection bikes and expressed an interest in one of my rarer bikes, I said 'it's not for sale but if it were then its £2000' never wanting to sell it. Recently that buyer has expressed an interest to buy it and as I have found another of the same bike but the year I wanted I thought I'd sell the original one(money going towards the new one.)
Now even though another collector has said it's worth £3000 I honoured the original £2000 verbal agreement with this buyer. It would not be fair to up the offer so I kept my word and it at £2000 as originality verbally agreed.
This buyer came to see it twice again over the past 3 or 4 weeks (they have seen it 4 or 5 times in total) and I said if you want it reserved then I'd need a non refundable (if they pull out of the agreement) deposit of 20%, however for this person I lowered the deposit to £100 so I knew they are committed. (After all people say they want it and let you down as we all know).
Anyway, they came to see again and as they told me they wanted it so I said I'll need a £100 to reserve it as theirs. They also said they couldn't now pay for it at the end of September (as originally agreed) so to show wiling I agreed to wait until the end of October for full and final payment (some end of September, final amount end of October.) With this all agreed verbally agreed and in writing with a 'sale of goods' signed by BOTH of us with copies each, they put down the £100 deposit.
Now, 4 days later that have said they want to pull out of the deal and want half their (non refundable) deposit back.
I've always been clear that the deposit is to show commitment to follow through on the whole deal and not pull out, leaving me with no sale. I have also been very clear and have communications to prove this that it is not refundable, it was all agreed and now they are going back on the deal.
As they have pulled out do you think it's fair that I have said they have lost the deposit now?
I have put this out for a few RBer mates and they have said they think I'm being fair.
I'm a very fair person and if the shoes was on the other foot I would have to accept the loss of my deposit because I was pulling out and going back on the deal.
I don't think I'm being unfair but thought I;'d put it out to my fellow RBers to get a consensus. Thank for reading.
BIG SIGH
Your thoughts on this one please guys...
18 moths ago a buyer saw one of my collection bikes and expressed an interest in one of my rarer bikes, I said 'it's not for sale but if it were then its £2000' never wanting to sell it. Recently that buyer has expressed an interest to buy it and as I have found another of the same bike but the year I wanted I thought I'd sell the original one(money going towards the new one.)
Now even though another collector has said it's worth £3000 I honoured the original £2000 verbal agreement with this buyer. It would not be fair to up the offer so I kept my word and it at £2000 as originality verbally agreed.
This buyer came to see it twice again over the past 3 or 4 weeks (they have seen it 4 or 5 times in total) and I said if you want it reserved then I'd need a non refundable (if they pull out of the agreement) deposit of 20%, however for this person I lowered the deposit to £100 so I knew they are committed. (After all people say they want it and let you down as we all know).
Anyway, they came to see again and as they told me they wanted it so I said I'll need a £100 to reserve it as theirs. They also said they couldn't now pay for it at the end of September (as originally agreed) so to show wiling I agreed to wait until the end of October for full and final payment (some end of September, final amount end of October.) With this all agreed verbally agreed and in writing with a 'sale of goods' signed by BOTH of us with copies each, they put down the £100 deposit.
Now, 4 days later that have said they want to pull out of the deal and want half their (non refundable) deposit back.
I've always been clear that the deposit is to show commitment to follow through on the whole deal and not pull out, leaving me with no sale. I have also been very clear and have communications to prove this that it is not refundable, it was all agreed and now they are going back on the deal.
As they have pulled out do you think it's fair that I have said they have lost the deposit now?
I have put this out for a few RBer mates and they have said they think I'm being fair.
I'm a very fair person and if the shoes was on the other foot I would have to accept the loss of my deposit because I was pulling out and going back on the deal.
I don't think I'm being unfair but thought I;'d put it out to my fellow RBers to get a consensus. Thank for reading.
BIG SIGH
