Seller change mind after deposit was paid

Florinakke

Hi,

Might not be the right category but I found this as the closest one.

I'm the seller of 1kg silver on Facebook. Someone is willing to buy it and he said he will collect it in 10days and for that he paid £120 in advance. But in the meantime I've changed my mind and I let know the buyer that I wanna sell it somewhere else and offer to refund him.
He got ballistic and start to threat me that he will take to court if I don't sell it to him as we have a written agreement- he referred to Facebook chat on Messenger. 

I know I've made a mistake and is not fair to change my mind, I apologised and I was polite all the time, but am I in trouble with this if I refund him and not finish the deal?

Thanks 

Florinakke

Yes price is going up. 
Anyway, why on Ebay you can change your mind and refund the buyer but not on Facebook? 
Apparently as long as I have the item the transaction is not over so both parties can change their mind. 

[Deleted User]

ratechaser said:

Oh right, so now you've seen the price go up because people have moved on from GameStop to silver, and you want to get a better price for it. What a nice piece of work you are.

Anyway, sounds like you are contractually bound to sell through the deposit being paid so suck it up. Or face court. Or head back under your bridge, whatever is most appropriate.

GME to Silver is a hedge fund trick to try and get people to sell GME to get the price down to reduce their losses

Florinakke

Anyone else with a different opinion or can confirm that I'm in a contract despite the transaction is not finished? 

ratechaser

Deleted_User said:

ratechaser said:

Oh right, so now you've seen the price go up because people have moved on from GameStop to silver, and you want to get a better price for it. What a nice piece of work you are.

Anyway, sounds like you are contractually bound to sell through the deposit being paid so suck it up. Or face court. Or head back under your bridge, whatever is most appropriate.

GME to Silver is a hedge fund trick to try and get people to sell GME to get the price down to reduce their losses

House always wins in the end... especially when the punters think they are in control and being really really clever.

strawb_shortcake

From what you've said you have the 5 things that form a legally binding contract, offer, acceptance, consideration, intention to be legally bound and presumably both parties have contractual capacity.

ivtechcivic

Well I don't know what you are selling as it says 1kg silver, and others referring to stock market.
But you are not bound by anything. 

I sell A LOT on Facebook and never had any bounding, or contract or whatever. 
He cannot do anything because he doesn't even have your address, what's wrong with you deleting your account and running off with the £150? Nothing.
You changed your mind, you changed your mind. So he needs to accept the refund. 

Even on Ebay, I can decide to change my mind for not selling an item despite 4 people watching it. Though ebay can also double check why I don't want to sell item anymore. Though this is to do with ebay trying to gain money from sellers.

If your house burnt down, you lost a loved one, or something grave happened, are you telling me you would still have the mentality to sell?

I sell my items on Facebook, Shpock, Ebay, and Gumtree. And if I sold the item in one of those sites, I delete on others or let others know it is gone.

So nothing is binding. It is wrong if the guy paid for the deposit on Facebook to hold for him, but you sold the item to someone else on Facebook. That is wrong. 
But nothing wrong in the guy paying for deposit and you changing your time, unless you both VERBALLY and in TEXT decide this is a contract. 

Florinakke

Deposit was transferred to my bank account, so somehow is not very difficult to find my address. 
I'm not intending to take his money and we didn't agree chat on Messenger is a contract.
He stated to threat me with police and his solicitor. 
To be honest I am not familiar with all this legislation thing and I'm a bit scared as I don't want to end up in court.

ratechaser

ivtechcivic said:

Well I don't know what you are selling as it says 1kg silver, and others referring to stock market.
But you are not bound by anything. 

I sell A LOT on Facebook and never had any bounding, or contract or whatever. 
He cannot do anything because he doesn't even have your address, what's wrong with you deleting your account and running off with the £150? Nothing.
You changed your mind, you changed your mind. So he needs to accept the refund. 

Even on Ebay, I can decide to change my mind for not selling an item despite 4 people watching it. Though ebay can also double check why I don't want to sell item anymore. Though this is to do with ebay trying to gain money from sellers.

If your house burnt down, you lost a loved one, or something grave happened, are you telling me you would still have the mentality to sell?

I sell my items on Facebook, Shpock, Ebay, and Gumtree. And if I sold the item in one of those sites, I delete on others or let others know it is gone.

So nothing is binding. It is wrong if the guy paid for the deposit on Facebook to hold for him, but you sold the item to someone else on Facebook. That is wrong. 
But nothing wrong in the guy paying for deposit and you changing your time, unless you both VERBALLY and in TEXT decide this is a contract. 

This thread gets funnier by the minute...

Yahoo_Mail

ivtechcivic said:

Well I don't know what you are selling as it says 1kg silver, and others referring to stock market.
But you are not bound by anything. 

I sell A LOT on Facebook and never had any bounding, or contract or whatever. 
He cannot do anything because he doesn't even have your address, what's wrong with you deleting your account and running off with the £150? Nothing.
You changed your mind, you changed your mind. So he needs to accept the refund. 

Even on Ebay, I can decide to change my mind for not selling an item despite 4 people watching it. Though ebay can also double check why I don't want to sell item anymore. Though this is to do with ebay trying to gain money from sellers.

If your house burnt down, you lost a loved one, or something grave happened, are you telling me you would still have the mentality to sell?

I sell my items on Facebook, Shpock, Ebay, and Gumtree. And if I sold the item in one of those sites, I delete on others or let others know it is gone.

So nothing is binding. It is wrong if the guy paid for the deposit on Facebook to hold for him, but you sold the item to someone else on Facebook. That is wrong. 
But nothing wrong in the guy paying for deposit and you changing your time, unless you both VERBALLY and in TEXT decide this is a contract. 

I'll just leave this here...

https://legal-dictionary.thefreedictionary.com/loss+of+bargain#:~:text=n.,negligence, or some other wrongdoing.

Chino

Florinakke said:

and I'm a bit scared as I don't want to end up in court.

So do the right thing and fulfill your end of the bargain.