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Deposit for Purchase

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Old Aug 20, 2010 | 01:32 PM
  #16  
EricLee7481's Avatar
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From: In a galaxy far far away...
Originally Posted by mifesto
i dont think you have much legal recourse. yes he did sign a deposit but WHAT kind of punitive damage can you truely put on the seller? he gave you the deposit back and you never made full payment. you cant even charge him interest 'cuz he held your $500 for such short duration. the only "damage" on your end is maybe you paid $10 for cashiers check LOL. besides moral standpoint, you'd be wasting your time and money to fight him.


so in another words, sorry thats life.
I do understand there is no case to be pursue, and I had no intention of doing so. It's more of business ethics/principles when you deal with buying/selling. You're absolutely right, this is life and I was just hoping that people keep their own words when an agreement is reached.

It's like the old saying - " a man is as good as his word"

Eric
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Old Aug 20, 2010 | 01:41 PM
  #17  
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From: Princeton, NJ
ya that dudes a hole... go egg his house haha j/k

my current DD g35 was like that.... found the perfect one i wanted at the dealer but already had a deposit. i still offered him $500 over the current offer and to buy it RIGHT THERE AND THEN and the dealer said ok lol. money talks period.
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Old Aug 20, 2010 | 05:19 PM
  #18  
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From: Ohio
Originally Posted by mifesto
money talks period.
Meaning, a-holes will ditch any morals for more money
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Old Aug 20, 2010 | 06:01 PM
  #19  
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From: So Cal
**** *****es..Get money && EVo's..Haha

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Old Aug 20, 2010 | 06:29 PM
  #20  
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lesson learned, if you want something, BUY IT.

i just bought an evo ix mr from MN. i made sure to arrange the money prior to seeing or driving the car. that way i wouldn't have to scramble back and forth with the seller. the seller told me he had dozens of calls and promises to buy the car. he said he wouldn't hold anything for anyone because he'd be wasting everyone's time.

there's no legal battle here. at the end of the day, you're not "out" anything besides a few trips to the bank. it wasn't a good moral decision on his part, but that's business sometimes.
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Old Aug 20, 2010 | 06:47 PM
  #21  
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Originally Posted by boostless
That is HORRIBLE business practice/ethics. As you said, a deposit IS an action of good faith and is legally a contract (not to mention you signed an actual contract), which is why if you chose not to buy the car, he has the right to keep the deposit. That really sucks that people don't understand and/or follow this.

Legal recourse is not reasonable for the fact that you didn't lose anything from this transaction. If you had lost tangible opportunities, then you would have a case. They would just say lick your wounds and move on. Good luck finding another car.
Exactly! People are suppose to have more pride than this as an individual. If someone makes a deal AND you sign a contract, then you deserved that car even if someone offered him two times the money you were willing to pay. The guy was a pig don't worry, I think we all know how it feels to lose something we almost had. This same thing happened to my friend and I when we drove up to LA to take home a 240sx sr20 when the loser seller decided to sell it to someone else for $500 dollars more as we were in transit!

Keep searching bro you'll find the right one, shes out there somewhere.
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Old Aug 21, 2010 | 07:40 AM
  #22  
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From: IL
id say he is a A hole for not atleast contacting you and informing you that another person is bidding higher and see if you would of went high for all he knew he could of made some more lol owell but i guess in this state rakin in all the $$ u can get is prolly what id do
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Old Aug 21, 2010 | 09:20 AM
  #23  
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From: In a galaxy far far away...
Originally Posted by casper3043
lesson learned, if you want something, BUY IT.

i just bought an evo ix mr from MN. i made sure to arrange the money prior to seeing or driving the car. that way i wouldn't have to scramble back and forth with the seller. the seller told me he had dozens of calls and promises to buy the car. he said he wouldn't hold anything for anyone because he'd be wasting everyone's time.

there's no legal battle here. at the end of the day, you're not "out" anything besides a few trips to the bank. it wasn't a good moral decision on his part, but that's business sometimes.
The reason why I didn't buy it on the spot, was because the seller had promise to take the car for smog/pre-purchase inspection during the holding period, as long as he knew I was serious about the purchase (hence the reason for me to leave a deposit). Since it was a rather large purchase, I wanted to get a peace of mind and make sure the car will pass smog and no major mechanical problems. I would rather not inherit someone's headache and regret making purchase that significant.

Eric
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