Reply With QuoteThe right thing to do
Ws there a written agreement with the deposit person
So I sold the boat last night for full price but of course they want to have a mechanic check it out. No problem. BUT, they also want me to fix an oil leak before they make full payment. I priced the boat low so it would sell fast and disclosed the leak as it is not something you would see or know if not told about it. I accepted a 1,000 for deposit but then later got an offer to buy as is not inspection no oil leak repair. Whick means I can get paid today in full vs. in 2-3 weeks. (I already laid out the cash for the new motor/new boat)
What's the right thing to do at this point? I sure wanna be paid right away instead but do I back out of a deposit deal?
The right thing to do
Ws there a written agreement with the deposit person
I agree... If you give your word you need to keep it... That is the right thing to do...
Steve
Take the money from the second guy & run to the bank. Seriously you disclosed it had a oil leak so it isn't your deal to fix. Give the guy his grand back & do the deal with the second guy.
I think all that needs to be said here is...
In business, money talks...
did you agree to fix and then take the deposit? if so, I would fix and sell to the deposit buyer. If deposit was givin and then they requested the fix... you have every right to tell them you have a cash buyer who wants it without the fix and offer them the same deal or then you will sell to other buyer.... just be sure you get a deposit from the other buyer before you tell the others, explain to buyer two that you will hold the deposit and see if the other deal falls through.... if the first buyer decides to match deal then the second guy gets his deposit back..... make the deal last no more then 2-3 days.
Did you accept their counter offer of full price with the stipulation that YOU fix the leak? If you accepted, I would say that's the deal you need to make good on. If not, tell them, sorry, the original terms were (and it was disclosed) that there was an existing oil leak and the the sale price as-is is $xxxx.xx. Did you accept the deposit before or after theysaid they wanted you to fix the leak?
Sounds like the first Guy could "nickel-dime" you..........I would tell him take it as is.
I agree with the other posters. If you agreed to the terms of the sale with the first buyer, keep your word, and complete the sale.
We all know how boat sales can go. Iffy buyers...Fix this fix that... yadda yadda yadda. You shouldnt have agreed to fix anything in the first place.
Heres what you do...
1. Get a deposit from second buyer.
2. Call first buyer. Tell him you had a change of heart and dont want to sell the boat. Give him his money back
3. Call up second buyer and tell him to give you the rest.
Outcome. You got out of he deal what you wanted in the first place. A sale that was "as is".
The first buyer will haunt you forever...
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