deposits and the law

[robbie]

hi, i recieved £200 deposit on a bike i am selling for £1200 so as arranged i put 12 months mot on and clean her up ready to pick up, only to get call from buyer saying his wife has been made redundant so has to pull out, where do i stand.

[zerohero]

hi, i recieved £200 deposit on a bike i am selling for £1200 so as arranged i put 12 months mot on and clean her up ready to pick up, only to get call from buyer saying his wife has been made redundant so has to pull out, where do i stand.

i dont know legally, but isnt that the point of a safety deposit?

[Bogus]

You stand where you want to, and maybe put yourself in his shoes while you mull it over. Personally I would give him his deposit back, and try to sell the bike again. Maybe , just maybe, Id deduct something for readvertising, but no more than £50. Thats just me, Mr nice guy.

Bogus

[hiroler]

I would take your costs out of it and relist the item!

[robbie]

thanks guys, he has offered to pay for mot and expenses so i will take that ,bit of hassle but i thought you lost the deposit once you back out, i dont know the law i supose its down to goodwill, so i will take out £50 and relist, and everyone thinks us cornish are tight.

[colour10]

I put £250 deposit on a Jag once. I pulled out and lost my money. Thats how it works I thought. You done well though.