Don’t know where else to post this and who to ask, but I have a question regarding deposits on selling karts. I was selling a kart on here and received a small deposit on the kart. 3 weeks went by with no futher action from the buyer. I had even offered to drive 3 hours to deliver it. After 3 weeks, I finally sold it to the next person who was waiting. I was selling the kart to buy a new motor I had found for sale. During those 3 weeks, the motor sold and I missed out on it waiting. I was mad but patient as the buyer kept saying he wanted it. Now he wants his deposit back. The deposit was $100 if anyone is curious. Do I need to return that money or count it towards all the time I wasted on him? Thanks for any feedback as I don’t deal with this stuff often.
The way I figure it, what was the verbal agreement prior to the deposit. How long were you suppose to wait for him ? Buyers do need to realize that when they put a deposit on equipment, that that money is gone if they fail to fulfill their end of the deal. On the other hand, if in fact you sold the equipment prior to the day the buyer agreed to pay you in full, I’d say just refund him the 100$. Just my 2 cents:)
I don’t think there was a clear discussion of the terms of the deposit. What he is asking is what is the usual common sense protocol.
Need more info, did you have contact in those 3 weeks, did you tell him you were selling it and give him a last chance? Seems like 3 weeks is a pretty long time to leave a deal hanging but you did sell it for your full asking price so it’s not like you missed out on a seller. You did miss out on another deal with an engine but I think it’s a stretch to hang that on him.
Might be worth $100 to get the guy off your back and lesson learned, next time set a time limit.
FAA certified jet engine and aircraft technician,
Nicholson Speedway class champion 2001,
Yamaha KT100 Service Center,
41 years karting experience
Well, I guess it didn’t matter. He got his money back from me through Paypal without me knowing. Sucks, I really got screwed on that deal. I sold it for $100 less because I had that deposit and lost out on the other engine I wanted. I hate the internet. Watch out for Gale Black, I see he is still shopping for a motor on here.