Buyer backed out of bike sale hours before delivery... Deposit debate?

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TekNinja81 said:
I've written details into the bill of sale/contract including all of the deposit & payment details, so if anything goes south I'll have the signed papers indicating what happened.

Hopefully this guy isn't that much of a POS, but you never know, seeing as he's already been caught BSing me in a few ways.

As it stands, I have his original deposit, and 2 EMTs (folks were correct, limit of $1,000 per day/transaction), the remainder to be paid in cash tomorrow afternoon when I deliver.

I'll just be glad when it's over with... though I am sure as hell going to miss riding for a while.
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You're taking this too personal. He might be lying might be not. But he was not scamming you. At worst hes lying due to buyer remorse. It happens to all of us, impulse buy and usually we can return the good to a store.... In this case hes only lying to back out due to private sale.

You dont have to call him a POS ...gee. Seems like you got the worse deal in this.
 
nfq said:
Transactions can be reversed. Some take more effort than others.

Cash is still king.
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What a clueless statement. Base on your logic any tx thro banks are not safe then. Even you deposit that cash to your bank.

EMT isnt easy to reverse. Even if this turns out to be fraud. The banks will take the hit. This service is offered by Interact and they're acting as clearing house.

Talk to your bank manager and ask them if they can reversed a certified checks.... Its called "certified" for a reason.
 
Chasem said:
Interesting... Never happened to us on e-transfers. Credit Charge backs... Yes absolutely.
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Wiring can be reversed within a certain time frame. After the amount is cleared no way your bank can reverse it.

Also EMT isnt bank wiring. Interact clear the fund and the fund is already deducted from your acct. Once the fund is deposited. Its out of your banks hand. Usually the bank policy to prevent fraud was hold the tx and contact the sender to confirm.

Certain ppl on here seems to watch too much holywood and lost touch with reality
 
I think good will goes further than a hundred bucks or even five hundred bucks. You will ultimately sell your bike and you've already said you had higher offers. Why try to make money off someone else. And as to preparing the bike, you'd need to do that for the next sale anyway so it's not time invested solely to him.

I would return the deposit and consider it an act of good faith. You can never go wrong by taking the higher road and offering kindness and empathy.


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whitedogz said:
I think good will goes further than a hundred bucks or even five hundred bucks. You will ultimately sell your bike and you've already said you had higher offers. Why try to make money off someone else. And as to preparing the bike, you'd need to do that for the next sale anyway so it's not time invested solely to him.

I would return the deposit and consider it an act of good faith. You can never go wrong by taking the higher road and offering kindness and empathy.


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Mom? What are you doing here? :P
OP & original buyer are going through with transaction.
 
A bike is a toy. If you dont have rainy weather $$$ for emergencies like a vehicle repair, you shouldnt be buying a toy.

If you were really an *** you could have responded "good thing you're buying another vehicle from me" to the "vehicle inop"

In the end, if he continued to back out id have kept the $$ and slept like a baby. You kept your end of the bargain. morals? Sure. We entered into an agreement where money was laid down on other side for promise of transaction completion. They failed to honour the agreement and forfeited the $$. That is the whole point of a downpayment, so they have some skin in the game and show they are serious.
 
Red_Liner740 said:
A bike is a toy. If you dont have rainy weather $$$ for emergencies like a vehicle repair, you shouldnt be buying a toy.

If you were really an *** you could have responded "good thing you're buying another vehicle from me" to the "vehicle inop"

In the end, if he continued to back out id have kept the $$ and slept like a baby. You kept your end of the bargain. morals? Sure. We entered into an agreement where money was laid down on other side for promise of transaction completion. They failed to honour the agreement and forfeited the $$. That is the whole point of a downpayment, so they have some skin in the game and show they are serious.
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What happens when a seller didnt go thro the deal? And just return the deposit? Sue the seller? Easy to talk right or wrong, moral or not it goes both ways. This actually happened to me. I guess the seller got higher offer.
 
Who cares if hes lying or not. I doubt he is tho because no one needs a bike. Something came up on his end.

If it was so much trouble for you to prep the bike.. make him understand deposits are usually non-refundable, but since hes a nice guy and wasnt being a dicc about it, Id give him a portion of the deposit back. At the end of the day, you did use your time.

However, if he was being a dicc, and complaing about every little thing on the bike, fucc him, keep it all and tell him to go kick rocks!
 
If the seller returns the deposit, just go find another. That's why I don't give or take deposits. All or nothing.
 
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