I posted a motorcycle on craigslist for 1500 OBO. A gentleman called me and told me he wanted to buy it, he came by the house and checked out the bike. Said he wanted but all he had was $500.00 on him now. He’d have the rest the following week between tuesday and thursday. I said that’s fine, he asked if he could take the bike in his custody and I told him “no”. I told him what I would do is write up a bill of sale showing the deposit and the stipulations for the bike to be picked up, which consisted of him producing the remaining money.He agreed to it and signed the paper, in good faith I gave him the title (unsigned) to show him I was gonna hold it for him. well on monday of this week he called me to tell me he wasn’t going to be able to buy the bike, that he didn’t have the finances to. I had 5 other buyers call me (that I turned down) and removed the posting from craigslist. well after that I had to repost the listing and take only $1100 for a hit of the $400.00 less to get the bike sold in time for me to purchase my car. on top of that I had to go to the DMV and purchase another title (fast title) which cost me another $87.00 to give to the new buyer that had paid me for the entire amount. Am I entitled to give him back his deposit since he backed out and caused me all this trouble?
It depends on what your agreement was — i.e., whether the deposit was nonrefundable or not. If you never thought abuot that issue, then I think you owe him the deposit back, but speak to him about the costs you incurred (selling for less is not a cost).
Wagner, Vaughan & McLaughlin, P.A.
601 Bayshore Boulevard; Suite 910
Tampa, FL 33606
Give the man back his deposit. Your “trouble” is not compensable, in my opinion.
Sarah Grosse, Esquire
New Port Richey, FL 34655
You incurred losses as a result of his breach of the agreement. You relied upon his promise to your detriment, so you may be entitled to some damages. If your agreement stated that the deposit was nonrefundable, then you can definitely keep it.
Longa Law P.A.
511 W Bay Street, Suite 350