Stork_III
Well-Known Member
"Deal" on Friday, contact over the weekend to cancel. Seems reasonably prompt to me, only a real B*****D would plead "youv'e cost me time and money, no deposit back". You may be but I doubt it.
giving a deposit back
- Thread starter paulburton44
- Start date
Pye_End
Well-Known Member
Well there is your answer -
If you think the guy would take your money without earning it it similar circumstances, then keep it.
If you think he is expects to earn his money rather than take it from somebody else, then let him have it back.
I know that I could not sleep at night if I took his money unless had very good reason - ie out of pocket expenses.
If you think the guy would take your money without earning it it similar circumstances, then keep it.
If you think he is expects to earn his money rather than take it from somebody else, then let him have it back.
I know that I could not sleep at night if I took his money unless had very good reason - ie out of pocket expenses.
ColinHuggins
N/A
I don't see any mention of a formal contract e.g the RYA Agreement for Purchase of a Second-Hand Boat which can be downloaded, and amended for free, and with no hassle. But if you don't want any paperwork at all, pay a broker a fixed fee to do everything for you. I've tried both ways, and DIY comes second best, but only just. Anno Domini rools OK!
paulburton44
Well-Known Member
Thanks for all the advise.....
I did not ask for a deposit, he offered a deposit.....
I am going to give him £400 back when I get round to it.....letting him stew a bit.
I need to get the cash in the bank to make sure it is not dodgy....
I need to re-advertise etc. and I did turn away a potential buyer.
The boat is still for sale, see my link below, see the asking price...
I did not ask for a deposit, he offered a deposit.....
I am going to give him £400 back when I get round to it.....letting him stew a bit.
I need to get the cash in the bank to make sure it is not dodgy....
I need to re-advertise etc. and I did turn away a potential buyer.
The boat is still for sale, see my link below, see the asking price...
savageseadog
Well-Known Member
I'm interested, would you take a deposit?
bbg
Well-Known Member
(Not replying to anyone in particular)
Just curious - to all those who say "Give him his deposit back -you haven't earned the money and you haven't suffered any loss". What would your response be if the original poster had said - "Deal on Friday to buy a boat - paid a deposit - seller told me on Monday that he had sold it for a higher price and offered my money back."
Do you think that would also be morally OK? Because it is really no different than what has happened here.
My personal view is that people should honour their word, or accept the consequences if they don't.
Just curious - to all those who say "Give him his deposit back -you haven't earned the money and you haven't suffered any loss". What would your response be if the original poster had said - "Deal on Friday to buy a boat - paid a deposit - seller told me on Monday that he had sold it for a higher price and offered my money back."
Do you think that would also be morally OK? Because it is really no different than what has happened here.
My personal view is that people should honour their word, or accept the consequences if they don't.
bedouin
Well-Known Member
Moral or not there is nothing you can do about it.
Similar things happen all the time in the housing market
Similar things happen all the time in the housing market
capsco
Well-Known Member
[ QUOTE ]
(Not replying to anyone in particular)
Just curious - to all those who say "Give him his deposit back -you haven't earned the money and you haven't suffered any loss". What would your response be if the original poster had said - "Deal on Friday to buy a boat - paid a deposit - seller told me on Monday that he had sold it for a higher price and offered my money back."
Do you think that would also be morally OK? Because it is really no different than what has happened here.
My personal view is that people should honour their word, or accept the consequences if they don't.
[/ QUOTE ]
Spot on reply.
(Not replying to anyone in particular)
Just curious - to all those who say "Give him his deposit back -you haven't earned the money and you haven't suffered any loss". What would your response be if the original poster had said - "Deal on Friday to buy a boat - paid a deposit - seller told me on Monday that he had sold it for a higher price and offered my money back."
Do you think that would also be morally OK? Because it is really no different than what has happened here.
My personal view is that people should honour their word, or accept the consequences if they don't.
[/ QUOTE ]
Spot on reply.
pmyatt
Well-Known Member
20 years ago I put down a deposit of £ 3,000 with a broker for a second-hand (or is that pre-owned these days?) Kalik 45 called Ulysses Option. The boat had originally been advertised at £ 65,000 but had sat on the hard for 6-months without any interest, so I put in a cheeky offer of £ 25,000 to see what would happen (you can always increase your offer if the owner says "NO!", but it is very difficult to reduce it). The offer was refused but the broker said the owner was prepared to accept £ 30,000 - hence the deposit. After 10 days we had heard nothing so contacted the broker to see what was happening - no answer. A further 2 weeks had passed when the broker admitted that someone else, who I subsequently found out to be another broker on the East Coast, had offered £ 32,500 - was I prepared to increase my offer. I said I was not prepared to get into a bidding war and, as my deposit had been accepted I believed I had first call. A week or so later my cheque was returned to me - uncashed. I have often wondered where I stood legally but, as I was in the Forces and was to be posted overseas a few months later, I never pursued the matter - anyone any thoughts?
Pye_End
Well-Known Member
No I do not think this is the the right way to do busness. Just because many people do it does not make it so, and those on the receiving end of this practice feel agrieved.
So you can either join in, or act how you you think is just, and just hope a little rubs off on to somebody else and makes the world a better place.
So you can either join in, or act how you you think is just, and just hope a little rubs off on to somebody else and makes the world a better place.
capsco
Well-Known Member
[ QUOTE ]
20 years ago I put down a deposit of £ 3,000 with a broker for a second-hand (or is that pre-owned these days?) Kalik 45 called Ulysses Option. The boat had originally been advertised at £ 65,000 but had sat on the hard for 6-months without any interest, so I put in a cheeky offer of £ 25,000 to see what would happen (you can always increase your offer if the owner says "NO!", but it is very difficult to reduce it). The offer was refused but the broker said the owner was prepared to accept £ 30,000 - hence the deposit. After 10 days we had heard nothing so contacted the broker to see what was happening - no answer. A further 2 weeks had passed when the broker admitted that someone else, who I subsequently found out to be another broker on the East Coast, had offered £ 32,500 - was I prepared to increase my offer. I said I was not prepared to get into a bidding war and, as my deposit had been accepted I believed I had first call. A week or so later my cheque was returned to me - uncashed. I have often wondered where I stood legally but, as I was in the Forces and was to be posted overseas a few months later, I never pursued the matter - anyone any thoughts?
[/ QUOTE ]
You were the victim of the two brokers working together, when your deposit was accepted by the broker, no other offers should have been entertained until negotiations between you and the vendor were exausted.
20 years ago I put down a deposit of £ 3,000 with a broker for a second-hand (or is that pre-owned these days?) Kalik 45 called Ulysses Option. The boat had originally been advertised at £ 65,000 but had sat on the hard for 6-months without any interest, so I put in a cheeky offer of £ 25,000 to see what would happen (you can always increase your offer if the owner says "NO!", but it is very difficult to reduce it). The offer was refused but the broker said the owner was prepared to accept £ 30,000 - hence the deposit. After 10 days we had heard nothing so contacted the broker to see what was happening - no answer. A further 2 weeks had passed when the broker admitted that someone else, who I subsequently found out to be another broker on the East Coast, had offered £ 32,500 - was I prepared to increase my offer. I said I was not prepared to get into a bidding war and, as my deposit had been accepted I believed I had first call. A week or so later my cheque was returned to me - uncashed. I have often wondered where I stood legally but, as I was in the Forces and was to be posted overseas a few months later, I never pursued the matter - anyone any thoughts?
[/ QUOTE ]
You were the victim of the two brokers working together, when your deposit was accepted by the broker, no other offers should have been entertained until negotiations between you and the vendor were exausted.
graham
Well-Known Member
We once lost out on a house purchase in similar circumstances. Only found out later that if a house needing renovating had a low offer accepted for it through a certain estate agent miraculously a slightly higher offer from a local builder would materialize and be accepted.we werent even offered the chance to bid again.
Sharp practice but dificult to prove.At least you got your deposit back.
Sharp practice but dificult to prove.At least you got your deposit back.