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Thread: buyer wants to back out of a car deal AFTER giving me the cash. #whatwouldbeyondo

  1. #41
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    Quote Originally Posted by Buster View Post
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    I'm not sure if I'm even legally allowed to do c if i technically no longer own the car. Ugh.
    It's a separate transaction. You sell him a video of you clearly shredding the Bill Of Sale for the low, low price of $6,500 (or whatever price you put on it taking another few months to sell this vehicle).

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    Wire funds then ask for money back? tbh sounds like a scam

    Edit: Guess they have indirect professional connection. Depends how much that is worth vs the sale of a asset that'll probably be worth less if you try to find a new buyer now

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    There are so many risks with b and c, regardless if you know the guy or not. I mean if you really want to be a nice guy and pursue b and c, then do up another bill of sale to protect yourself. Get all that shit signed.

    I wouldn't even bother even if it's a friend. So many ways it can go south.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    Wait, did you make the deal before the shit hit the fan with Covid? If so, keep a larger deposit, at least 10%.

    State that the deposit will be to cover the difference in sale price to another party. I would fear that selling it not may be challenging, but I could be wrong given the car.

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    Presumably he can sell it for more where he is otherwise why would he be buying one from Alberta?
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  6. #46
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    What does the reason matter? People lie regardless of connections. Smells like he's trying to let his buyer's remorse be your problem. Let him re-sell.

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    Deal is done, send him the car and it’s up to him to keep it or sell it.

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    Car is sold. Deal is done. He can deal with it. Don't waste a second more of your time on this.

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    Quote Originally Posted by nismodrifter View Post
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    Car is sold. Deal is done. He can deal with it. Don't waste a second more of your time on this.
    This.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.
    Originally posted by JRSC00LUDE
    I say stupid shit all the time.
    ^^ Fact Checked

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    I thought you need a signed bill of sale from both parties to constitute a vehicle sale?

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    Quote Originally Posted by shakalaka View Post
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    Everyone is forgetting that Buster knows this guy through some professional connections. So there are at least some arms length relationship and mutual connections in existence. Which means it's not likely to be a scam. Once that is ascertained for sure to be the case, I would suggest delving into the reasoning as to why the sale is being backed out of. If it's something like I found a better deal elsewhere on the same vehicle, then something maybe able to get worked out. If it's something like, my life will come to an end if I go ahead with it then it's your call as to how much you want to help someone out. I'd definitely keep a deposit, depending on the time and effort, I'd say 5% is reasonable.

    If someone was dropping $100K cash on a car, more likely than not they either found a better deal or a better investment for their money as opposed to being in dire financial need to keep living their lives.

    All that being said, strictly speaking as far as the legal side of things are concerned, there seems to be an offer and acceptance, i.e., there is a legally binding contract. Send the car, let him re-sell if that's what he needs to do. But all depends on what sort of mutual connections are in existence and if that move would harm you in some way down the line.

    PS: This is not legal advise.
    I would partially side with this.
    If someone has 100K and can drop that moola on a depreciating asset. Take a moment and assess the person, character and who they are.
    They may have business connections and reputation can be a big thing here. Later down the line will it hurt you? The economy is tanking and you may need some of those connections later down the line.
    On the flip side, you are sitting on the cash. You have to be a shark in this world if you want to be top dog. The other party made a poor decisions. Maybe their wife found out. Who knows..?

    Its a shitty situation. If it helps, you can park the car with me for for a few days. So nether of you have the car, it can help clear both your heads for a bit.
    Then I take my girlfriend out for a spin in the car and return it back after. At that point you and the other party will will know what they want to do and my girlfriend thinks im gangsta. Its a win win for all. Hell, I'l even leave my prized Japanese classic 2002 with you as security.

    In seriousness...if you do decide to return the money. As others have said wait on the cash and talk to a senior member in the bank.

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    There you have it @Buster , you gotta be a shark before you can be a dog. Hopefully that answers your question.

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    You have to let the peacock fly

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    Quote Originally Posted by Cagare View Post
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    Wait, did you make the deal before the shit hit the fan with Covid? If so, keep a larger deposit, at least 10%.

    State that the deposit will be to cover the difference in sale price to another party. I would fear that selling it not may be challenging, but I could be wrong given the car.
    Post Covid. Lots of people with cash out there still. Covid has made a lot of HNW people bored at home window shopping cars. Lots of lowballers though, more than usual, thinking people are desperate.

    Quote Originally Posted by Swank View Post
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    What does the reason matter? People lie regardless of connections. Smells like he's trying to let his buyer's remorse be your problem. Let him re-sell.
    This is close, yes.

    Quote Originally Posted by redblack View Post
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    Deal is done, send him the car and it’s up to him to keep it or sell it.
    Quote Originally Posted by nismodrifter View Post
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    Car is sold. Deal is done. He can deal with it. Don't waste a second more of your time on this.
    I have never really considered b), and I made that clear to him. Just curious how many people here would have done that.

    Quote Originally Posted by tonytiger55 View Post
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    I would partially side with this.
    If someone has 100K and can drop that moola on a depreciating asset. Take a moment and assess the person, character and who they are.
    They may have business connections and reputation can be a big thing here. Later down the line will it hurt you? The economy is tanking and you may need some of those connections later down the line.
    On the flip side, you are sitting on the cash. You have to be a shark in this world if you want to be top dog. The other party made a poor decisions. Maybe their wife found out. Who knows..?

    Its a shitty situation. If it helps, you can park the car with me for for a few days. So nether of you have the car, it can help clear both your heads for a bit.
    Then I take my girlfriend out for a spin in the car and return it back after. At that point you and the other party will will know what they want to do and my girlfriend thinks im gangsta. Its a win win for all. Hell, I'l even leave my prized Japanese classic 2002 with you as security.

    In seriousness...if you do decide to return the money. As others have said wait on the cash and talk to a senior member in the bank.
    Insert beyond joke here: If you GF wants a ride, tell her to call me. :P

    Alternative: post pics of GF

    Quote Originally Posted by cjblair View Post
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    There you have it @Buster , you gotta be a shark before you can be a dog. Hopefully that answers your question.
    I've been fortunate to be the shark more than the shark-ed, but you always gotta watch your back.

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    All good opinions have already been covered, it's not a teenager backing out on a Honda Civic, I'd be up front and ask what his reasoning is? Change of heart or something life changing the requires the back out?

    Very weird situation in general, let alone for $100k. I'd be extremely wary even if it was $10-20k.

    After sorting out the legality and money transfer risks I'd probably tell him I'm keeping $5k and give him back the rest.

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    I do agree with a lawyer being the middle man, shall @Buster agree to reverse the transaction.

    The buyer pays for the lawyer's fees.

  17. #57
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    Perhaps just line him up with the other local buyers. May be he can sell it quick with minimal loss and save the shipping. The original deal is done, no risk to you. Let him deal with the second sale.

  18. #58
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    Quote Originally Posted by lilmira View Post
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    Perhaps just line him up with the other local buyers. May be he can sell it quick with minimal loss and save the shipping. The original deal is done, no risk to you. Let him deal with the second sale.
    that's a fair suggestion. Seller can connect the new owner with the other interested parties and try to help him out.

  19. #59
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    I find it really strange that the buyer sent the funds without having a signed copy of the bill of sale. I wouldn't be sending funds to someone without knowing that we actually had a deal (as indicated by the seller's signature on the contract). Kinda weird he already even had your wire instructions at that stage...

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    Quote Originally Posted by you&me View Post
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    I find it really strange that the buyer sent the funds without having a signed copy of the bill of sale. I wouldn't be sending funds to someone without knowing that we actually had a deal (as indicated by the seller's signature on the contract). Kinda weird he already even had your wire instructions at that stage...
    This is true. I was talking to a couple people from Vancouver interested in my S2000, and one of them wanted to do deposit confirmation through docusign. And that's for a ~20k car.

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