Deposit question...

[Steve S]

A question for the CSR group. I am currently selling a Park Model trailer at the campground/marina that I am currently located at with my Monaco 210. Proceeds of this sale goes in to my "Buy a larger Dancer" fund.

Yesterday a father & son call me and want to see the trailer. I show it to them and we settle on a price and then they give me a 10% check as a deposit. (Well over $1000). NO contract signed, just a handshake deal. I do not have the title with me so we arrange to come back next weekend to close the deal. :smt038

This morning I get a call from the son that the "Wife/Mother" went ballistic and they may not be able to do the deal. :smt021
I was told she was upset because it is at a campground and only usable during the summer (4/15 - 10/15) each year.

They want to offer me $100 for my time if they cannot convince her of the deal. The 10% is a great deal more than $100.

In IL this trailer is handled like an automobile sale. Just a simple title exchange.

So what is the correct thing to do? Take the $100 or keep the deposit? I have not deposited their check yet this morning.
:smt100

Thoughts?

 

[rcknecht]

I would give the money back, and not take the $100... Things happen, and people need a break not then...

We made a deal to trade our Mallard park model for a our first boat (A sea raider)... The deal did not go through when I realized our park model had no wheels, and I could not move it... I ended up selling the the trailer and bought my 175 BR with it... That was 16 years ago...

 

[jason78]

If it was not a major inconvinence to show the camper, I would just send them the whole check back. If you had to go to any trouble maybe accept the $100 and return the check. If I had to guess, a stop-payment has probably already been placed on the check anyway. With no paperwork, you will probably have a hard time with it all if you deposit the check.

Personally, I would just let it go, return the whole check and move on, just my 2 cents. :grin:

 

[JimG]

IMO, if they seemed decent people, I would take the $100 for my trouble and give them their deposit check back.

 

[Summer Fun II]

Did you tell them it was a nonrefundable deposit. :huh:

They could just stop payment on the check then what would you do. ??

So be a nice guy and take the $100 for your time. :thumbsup:

Here in NY we have 3 business days to break a deal.


EDIT, You guys type fast . :wow:

 

[Air O'Nautical]

If it was not a major inconvinence to show the camper, I would just send them the whole check back. If you had to go to any trouble maybe accept the $100 and return the check. If I had to guess, a stop-payment has probably already been placed on the check anyway. With no paperwork, you will probably have a hard time with it all if you deposit the check.

Personally, I would just let it go, return the whole check and move on, just my 2 cents. :grin:

My thoughts exactly.

 

[Steve S]

Thanks for the opinions. The deal isn't completely dead yet. Per the discussion I was told they were going to continue to talk to her. I left it up in the air and we would get back together at the end of the week to see if anything changed.

It is almost a 1 hour for me to drive up to the marina so it did take a chunk of time from my day yesterday. They were very nice so that isn't an issue. I know $$$ are not an issue. The kid was driving a new shiny red BMW sports coupe...

Never having anyone back out of deal before I wasn't sure the protocols. If the deal falls apart I will probably take the $100 and refund the deposit check. The Dancer will just have to wait longer...

-Steve

 

[fwebster]

You are not only out the time on 2 weekends, but you may have lost other potential sales by full-filling your end of the transaction and removing the trailer from the market.

If it were me, I'd put a little mild pressure on the buyer to close the deal......you've already hooked him and the son up..... your lost time, potential lost sales to others, spent time on a boat purchase, etc. Then if the guy still hee-haws on closing the deal, tell him that you will just cancel the transaction, but you want him to bring his wife with him to pick up the check. Then sell her since she obviously wears the pants in that family.

 

[chuck1]

Never having anyone back out of deal before I wasn't sure the protocols. If the deal falls apart I will probably take the $100 and refund the deposit check. The Dancer will just have to wait longer...

-Steve

Dumb question, have you deposited the check? If so I would wait at least 3 weeks before I cut a refund check. Yes the check may be deposited, but then not clear and your bank will debit you amount plus charges from your account.

We had a check that took almost three weeks to come back as a bad check.

 

[comsnark]

Yeah, you may have lost a little time on this, but I personally wouldn't be a hard *SS on this.

 

[AKBASSKING]

Reminds me when I notified the Admiral we were moving to Alaska!:wow:

Her response: Why not Siberia! There's no difference.:smt009

She now loves it.:thumbsup:

Try to sell mom and if not, do the right thing and refund the money.

 

[Banagy]

My vote give the money back.

 

[CV-23]

I'd take the $100 cash if they back out. I don't mind being a nice guy but my kid does not drive a BMW.....he drives a '91 Lumina. I work 10-12 hours a day so my free time is worth some $$$$, Mike.

 

[Big Island Lifer]

Give the money back if they want to get out of the deal. If they bring the decision maker out for a visit be very nice to her.

My dad bought 3 boats and a house while my mom was out of town. I have no idea how their marriage survived.




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[MonacoMike]

Yeah, you may have lost a little time on this, but I personally wouldn't be a hard *SS on this.

COM, I knew we could agree on something. :smt038

 

[northern]

I would tear up the cheque and not take the 100. If you take the 100 next time some one give you a break what will you feel like.

 

[Gofirstclass]

I've found if you live your life on the "high road" and always treat others that way, good Karma comes back to you in many forms.

When they call you back simply ask them if they want you to tear up the check or void it and return it to them.

We can never build too my good Karma in our lives.

Besides, think how embarassing it must have been for the poor guy to call you and tell you (in not so many words) that his wife wears the pants in their family.

GFC

 

[almostenuff]

I've found if you live your life on the "high road" and always treat others that way, good Karma comes back to you in many forms.

When they call you back simply ask them if they want you to tear up the check or void it and return it to them.

We can never build too my good Karma in our lives.

Besides, think how embarassing it must have been for the poor guy to call you and tell you (in not so many words) that his wife wears the pants in their family.

GFC

Return the check, keep $50 and donate the other $50. Win-win!

 

[Woody]

Thanks for the opinions. The deal isn't completely dead yet. Per the discussion I was told they were going to continue to talk to her. I left it up in the air and we would get back together at the end of the week to see if anything changed.

It is almost a 1 hour for me to drive up to the marina so it did take a chunk of time from my day yesterday. They were very nice so that isn't an issue. I know $$$ are not an issue. The kid was driving a new shiny red BMW sports coupe...

Never having anyone back out of deal before I wasn't sure the protocols. If the deal falls apart I will probably take the $100 and refund the deposit check. The Dancer will just have to wait longer...

-Steve

You knew you would have to drive up and show the boat to potential buyers. Would you charge each one an extra 100 to cover your travel? Return the whole amount and thank them for their offer. My .02

 

[Bill Z]

If you were a buyer how would you want the seller to react in this case ? I think this is quote " treat those the way you would like to be treated ". Your trip cost is the cost of selling.