0
As a private seller can you repo your car if the buyer is a day late or can you change the contract?
Wiki User
∙ 14y ago
If the contract to sell the car was silent regarding under what conditions you can repossess the car, then you must seek relief through the courts. It also depends upon the laws in your region - some jurisdictions to not empower private repossession - in these jurisdictions all repossessions must go through the courts.
.
Once the judgment is awarded, it is then recommended that you obtain the service of the Sheriff's office to escort you on the premise to retrieve the property due to you. Or you may contract a repo firm.
.
Unless the contract specifically allows you to, you can never change a contract unilaterally. You can only change the contract if the all parties agree.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can a private auto seller renege after receiving a down payment?
Not without the buyer's consent if a contract was already formed
If buyer requests a release from contract can seller choose to enforce the contract?
A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
How would one describe a land contract?
A land contract is a contract between seller and buyer of property. A contract is only made when an agreement between seller and buyer has been reached. The seller becomes the land owner only when the full payment has been made.
What is the seller's compensations if buyer does not keep his agreement to purchase real estate?
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
What are some contracts for differences?
"In finance, a contract for difference is a contract between two different parties. Buyer and seller are involved. The buyer has to pay the seller the difference between the current value of the thing and its value during contract time."
When is a contract for real estate considered executed?
Upon both the buyer and the seller signing the contract.
When is a real estate contract valid?
When it has been signed by the buyer and seller.
Is the date of contract the date the seller signed?
The date the Buyer signs it.
When a seller has agreed to supply all of the needs of a buyer there is a?
requirements contract
What is the delivery price in a forward contract?
The price that the buyer and seller agree on.
Is a contract valid if the buyer informs the seller that they have signed the contract yet the next day the seller tells the buyer that they are no longer accepting the offer?
The contract is not enforceable unless both parties signed it. If the sellers changed their mind and didn't sign then you don't have a contract.
