Right of First Refusal -- Buyer Backed Out

[HateCraigslist]

What is the name of your state (only U.S. law)? Wisconsin

I have a question regarding Right of First Refusal. I recently listed my truck for sale on Craigslist and had a buyer interested within a few minutes of posting. He came and saw/drove the vehicle, offered me $11,800 (I was asking $12,500) and then wrote me a check for $100 for first right of refusal on the truck. When he wrote the check he said "I can write you a check for like $100, for first right of refusal, and if you get a better offer -- you can just rip my check up if I can't match." I continued to show the vehicle to other interested parties and received lower offers ($10k, $11k) and turned them down saying that I had another offer on the table. I did attempt to contact the gentleman who had ROFR multiple times over the two days that I continued to show the truck, to keep him in the loop of my sales process.

Then, I get a voicemail from him saying that he is no longer interested in the truck. Does that constitute grounds for cashing his check and terminating his deposit, since he reneged on the deal and I was essentially holding the truck for him/turning down lesser offers?

PS - That was my first and last time using Craigslist to buy/sell anything more expensive than an Ipod

Thank You!

 

[Zigner]

You didn't get a deposit...

 

[HateCraigslist]

You didn't get a deposit...

Excuse my use of the word "deposit". What I meant by that is the $100 check was written for the right of first refusal. The buyer was given the opportunity to exercise his right and purchase my truck at his initial offer, but he backed out on the sale saying that he was no longer interested. Is that grounds for forfeiture of his monies?

 

[BL]

What is the name of your state (only U.S. law)? Wisconsin

I have a question regarding Right of First Refusal. I recently listed my truck for sale on Craigslist and had a buyer interested within a few minutes of posting. He came and saw/drove the vehicle, offered me $11,800 (I was asking $12,500) and then wrote me a check for $100 for first right of refusal on the truck. When he wrote the check he said "I can write you a check for like $100, for first right of refusal, and if you get a better offer -- you can just rip my check up if I can't match." I continued to show the vehicle to other interested parties and received lower offers ($10k, $11k) and turned them down saying that I had another offer on the table. I did attempt to contact the gentleman who had ROFR multiple times over the two days that I continued to show the truck, to keep him in the loop of my sales process.

Then, I get a voicemail from him saying that he is no longer interested in the truck. Does that constitute grounds for cashing his check and terminating his deposit, since he reneged on the deal and I was essentially holding the truck for him/turning down lesser offers?

PS - That was my first and last time using Craigslist to buy/sell anything more expensive than an Ipod

Thank You!

This is rediculous.

Your fault you used craigslist and dealth that way.

Next time list your Products/Items and deal with who comes along worth a fair enough price that you will eccept. C.A.S.H Only , sold as decribed .

Keep your listing just in case.

You're not going to keep depositing folks checks to make free money.

Rip up the check and if you want to take lower offers ,reply back to the other inquiries unless you deleted altogether their email.

Ever hear of common sence ?

 

[Zigner]

Excuse my use of the word "deposit". What I meant by that is the $100 check was written for the right of first refusal. The buyer was given the opportunity to exercise his right and purchase my truck at his initial offer, but he backed out on the sale saying that he was no longer interested. Is that grounds for forfeiture of his monies?

The point is that you don't get to keep the money. Rip it up and move on.

 

[HateCraigslist]

This is rediculous.

Your fault you used craigslist and dealth that way.

Next time list your Products/Items and deal with who comes along worth a fair enough price that you will eccept. C.A.S.H Only , sold as decribed .

Keep your listing just in case.

You're not going to keep depositing folks checks to make free money.

Rip up the check and if you want to take lower offers ,reply back to the other inquiries unless you deleted altogether their email.

Ever hear of common sence ?

Thanks for your insights on how I "Dealth" with my private party sale. The initial offer of $11,800 was more than fair, and when I tried to "eccept" the offer the buyer backed out. I have heard of common "sence" and I have also had extensive grammatical training (you might consider it yourself) -- my hope was to receive insight from someone with legal background and/or direct experience with ROFR litigation and situations. Take your two cent troll responses to political blogs and media outlets where you can get your jollies making smart-a** responses to other losers just like yourself.

I am not attempting to profit or otherwise scam people out of deposit money, but I feel as though the buyer paid for the right of first refusal -- which is certainly an obstacle to selling anything since he must be notified of any other interested parties and offers. I fulfilled my end of the verbal agreement by attempting to notify him of other offers in a timely manner with no response on his part. Declining other offers, only to have the right holder back out of the sale seriously impeded my ability to sell my property, as the other buyers thought I was price hiking.

I welcome constructive advice and criticism -- or else I wouldn't be on this forum.

 

[BL]

Thanks for your insights on how I "Dealth" with my private party sale. The initial offer of $11,800 was more than fair, and when I tried to "eccept" the offer the buyer backed out. I have heard of common "sence" and I have also had extensive grammatical training (you might consider it yourself) -- my hope was to receive insight from someone with legal background and/or direct experience with ROFR litigation and situations. Take your two cent troll responses to political blogs and media outlets where you can get your jollies making smart-a** responses to other losers just like yourself.

I am not attempting to profit or otherwise scam people out of deposit money, but I feel as though the buyer paid for the right of first refusal -- which is certainly an obstacle to selling anything since he must be notified of any other interested parties and offers. I fulfilled my end of the verbal agreement by attempting to notify him of other offers in a timely manner with no response on his part. Declining other offers, only to have the right holder back out of the sale seriously impeded my ability to sell my property, as the other buyers thought I was price hiking.

I welcome constructive advice and criticism -- or else I wouldn't be on this forum.

You have you answer .move on.

 

[CSO286]

Thanks for your insights on how I "Dealth" with my private party sale. The initial offer of $11,800 was more than fair, and when I tried to "eccept" the offer the buyer backed out. I have heard of common "sence" and I have also had extensive grammatical training (you might consider it yourself) -- my hope was to receive insight from someone with legal background and/or direct experience with ROFR litigation and situations. Take your two cent troll responses to political blogs and media outlets where you can get your jollies making smart-a** responses to other losers just like yourself.

I am not attempting to profit or otherwise scam people out of deposit money, but I feel as though the buyer paid for the right of first refusal -- which is certainly an obstacle to selling anything since he must be notified of any other interested parties and offers. I fulfilled my end of the verbal agreement by attempting to notify him of other offers in a timely manner with no response on his part. Declining other offers, only to have the right holder back out of the sale seriously impeded my ability to sell my property, as the other buyers thought I was price hiking.

I welcome constructive advice and criticism -- or else I wouldn't be on this forum.

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