I live in NY and sold a car. Having problems with buyer decided not to sell it to him and refund money. Now he's threatening to sue.
Yes, you can. You violated the contract that was established by taking the deposit. Unless there was some restrictions on the deposit such as You have to confirm that you want to purchase within 5 days, or you have 10 days to present the rest of the money, otherwise I can sell to someone else.
Where I live a deposit is a payment to hold the vehicle.Please note I said paymentSo no, if you put down a deposit, you are paying us to not sell the car for a period of time.This payment is credited against your purchase but not refundable if decide not to buy.
a conditional offer
You need to decide what features to put on the car. Then determine the prices and who you will sell it to.
no i dont beleave so.
Not legally unless the buyer agrees to it.
trading in the car is probably your best option or you can sell it :)
That's a decision you need to think about and decide for yourself.
if someone puts a deposit on a car after a 2 weeks period they change there mind do have to give them there deposit back
One can sell a GMC 5500 to any local car dealership or at an auction. Before doing so, one should also determine the value of the car and condition and then decide on the price.
Which cars can you afford? How do trade-in values compare to private-sale values? Which car is right for you? Is it the right time to buy or sell? Our tools can help
You should go ahead with the sale. You can ask the buyer if he will let you out of the deal and even offer to pay him a good faith amount for the privilege, but in the end if he refuses and wants the car you need to keep your word and sell it to him. Otherwise you may end up in a lawsuit and besides you made a verbal contract and it is only right you keep your word. This is what I would do.