Buyer paid £1000 deposit and he is now messing me about.

matureoak

Hi Everybody. I am wondering if anyone here can help me decide on something. I recently had my motorhome for sale and someone came to view it. He was with me for approximately 2-3 hours and I went through each and every thing with him. We agreed on a price (£25600) and he said he will get back to me later that day with a final decision and terms on payment etc. He had expressed, when he came to view that he has the cash stuck in bonds etc. and it will take him about 2 weeks to release the funds and he asked whether or not I was prepared to hold it for him subject to him paying me a £1000 deposit.

Later that day he rang me and we went through a sort of verbal contract whereby I would keep the motorhome for him for a maximum of 4 weeks and also charge him a storage fee of £100 per week which he agreed. This was because it is a massive 35ft motorhome and I already knocked off about £1500 from my asking price.

The following Monday he deposited £1000 in my account as a deposit and I sent him a confirmation text and outlined the details of our agreement which was thus:

“Many thanks. Deposit received with thanks. Motorhome Damon reg no xxxxxx as seen and as inspected on 12th Oct 2017.

Price agreed: £25600
Deposit Paid £1000
Balance on collection £24600
Motorhome will be kept up to a maximum of 4 weeks which falls on 11th November 2017. Storage will be charged at £100 per week until collection.
He replied:
Thankyou
During the time I was holding the vehicle for him, I had to turn down many potential buyers. One such potential buyer was interested in it from before and as they were passing by Lancashire they thought they would at least come to have a quick peek at it. They came with £26000 in cash. I rang the person that paid me the deposit and told them that if they want to pull out they can and I will give them their deposit back. He replied that he wants it one million percent and that is why he has given me a £1000 deposit. This was One week after he paid me the deposit.

Now 1 week before the agreed latest date of collection he says it will take him another 3 weeks to get the cash and that he can give me £5000 now and his car (some flashy Mercedes that I am not interested in).
I replied that I am not prepared to enter into any other new negotiation with him and I would be sticking to the original terms.

He now wants his deposit back.
The buyer that came with cash has bought another one. It is now nearly winter so it will be harder for me to sell it as motorhomes are seasonal things.
Should I return the deposit? It looks like I am probably going to lose more than the £1000 he gave me.

Warwick_Hunt

You should have sold it to the cash buyer, lesson learned.

matureoak

But I already took a £1000 deposit off this idiiot.:(

Car_54

He has broken the contract. Return his £1,000 less the agreed storage charges.

david_a

Better of seeing if he comes up with the money, whilst still charging £100 per week.

In the meantime advertise it again.

System

matureoak wrote: »

He now wants his deposit back.

Tell him tough, he's lost it. Remind him of the original terms of the deal and that a deposit is something you lose if you don't go through with a purchase and that his choice is to come up with the balance by the 11th of November or lose the £1000.

As for it nearly being winter so hard to sell well TBH when you decided to make a 4 week agreement in October you would have been aware of the fact it would take you into mid November if it went south so that is something you'll have to live with for making an agreement like that at this time of year.

spiro

Ideally your text should have said it was a non refundable deposit.

loskie

take his additional £5k and this time have a proper written contract. You have a second bite at the cherry, lucky this time of the year.

wgl2014

I would consider refunding part of the deposit (less storage charge) and move on.
Sometimes it's just not worth the bother of dealing with Richard heads.
Easy to be critical in hindsight but anyone who starts making excuses and needing time to rearrange funds is likely to be talking from somewhere other than their mouth.

matureoak

Many thanks for all the views and replies. I have just sent him this message this morning.

​
Joe
The contract between us as acknowledged by you on 13/10/17 was as follows:
"Many thanks. Deposit received with thanks.
Motorhome xxxxxxx Reg No. xxxxxxx as seen and as inspected on 12th Oct 2017.
Price agreed: £25600
Deposit paid £500
Additional deposit of £500 to be paid Monday 16 Oct
Balance on collection £24600
Motorhome will be kept up to a maximum of 4 weeks which falls on 11th November 2017.
Storage will be charged at £100 per week until collection.”
The word deposit plainly means an amount you pledge and put down to follow through with the contract.
On Friday 20 October I had a cash buyer with me and I spoke to you to ask you whether you would like to pull out and get your deposit refunded. You replied that you want the motorhome one million percent that’s why you have paid a £1000 deposit and you confirmed that you were definitely in a position to complete.
On Monday 30th October you informed me that you could not complete the sale as agreed and that there would be a further delay of 3 weeks in making the full payment and collecting the vehicle. I am afraid that this places you in breach of our agreed terms. As such I am entitled to forfeit any deposit paid, entitled to the agreed storage fees (that currently stand at £400) and also entitled to claim other losses incurred consequent to your failure to complete the sale. You are well aware that I cannot continue to store the vehicle beyond our agreed date of sale and because I am in needs of funds myself will need to sell to a willing buyer at best available price.
In the circumstances I will keep the vehicle for you until 11 November, as agreed but will no longer hold myself bound to the contract if you fail to pay the full amount and collect the vehicle by that date. If it is still available when you have realised your funds then of course we can proceed.
Re. forfeiture of the deposit and the accrued storage charges to date, I suggest you seek legal advice on the matter as I have done. If you still wish to pursue the matter then I would suggest the small claims procedure would provide a fair resolution. Without prejudice to any future legal claim, I am content to cover my losses with the deposit paid and not pursue you for storage charges and consequential losses. However should you wish to litigate the matter I will pursue these additional losses by way of counter claim.
Kind regards

motorguy

matureoak wrote: »

Many thanks for all the views and replies. I have just sent him this message this morning.

​
Joe
The contract between us as acknowledged by you on 13/10/17 was as follows:
"Many thanks. Deposit received with thanks.
Motorhome xxxxxxx Reg No. xxxxxxx as seen and as inspected on 12th Oct 2017.
Price agreed: £25600
Deposit paid £500
Additional deposit of £500 to be paid Monday 16 Oct
Balance on collection £24600
Motorhome will be kept up to a maximum of 4 weeks which falls on 11th November 2017.
Storage will be charged at £100 per week until collection.”
The word deposit plainly means an amount you pledge and put down to follow through with the contract.
On Friday 20 October I had a cash buyer with me and I spoke to you to ask you whether you would like to pull out and get your deposit refunded. You replied that you want the motorhome one million percent that’s why you have paid a £1000 deposit and you confirmed that you were definitely in a position to complete.
On Monday 30th October you informed me that you could not complete the sale as agreed and that there would be a further delay of 3 weeks in making the full payment and collecting the vehicle. I am afraid that this places you in breach of our agreed terms. As such I am entitled to forfeit any deposit paid, entitled to the agreed storage fees (that currently stand at £400) and also entitled to claim other losses incurred consequent to your failure to complete the sale. You are well aware that I cannot continue to store the vehicle beyond our agreed date of sale and because I am in needs of funds myself will need to sell to a willing buyer at best available price.
In the circumstances I will keep the vehicle for you until 11 November, as agreed but will no longer hold myself bound to the contract if you fail to pay the full amount and collect the vehicle by that date. If it is still available when you have realised your funds then of course we can proceed.
Re. forfeiture of the deposit and the accrued storage charges to date, I suggest you seek legal advice on the matter as I have done. If you still wish to pursue the matter then I would suggest the small claims procedure would provide a fair resolution. Without prejudice to any future legal claim, I am content to cover my losses with the deposit paid and not pursue you for storage charges and consequential losses. However should you wish to litigate the matter I will pursue these additional losses by way of counter claim.
Kind regards

Did you seek legal advice?