Need help - sale of car fell through

I have been trying to sell my car and a guy called and said he was very interested, came and looked at it and we agreed on a price. This was last Thursday. He told me he couldnt get all of the money until Monday, and gave me a $200 check to hold the car in case anyone else called to tell them it was sold. I wrote him a receipt that stated he had paid 200 toward the total price of the car. I had two calls over the weekend, and I told them the car was sold. Then Sunday night he tells me he has changed his mind, and wants his money back. I had already cashed the check and didnt have the money. I felt inconvenienced, to say the least, because I could have possibly sold it over the weekend, and probably for more money than I was getting from him. However, I want to know if he is legally entitled to receive the money back, all or a portion. We live in Texas.

LauraTx said:

I have been trying to sell my car and a guy called and said he was very interested, came and looked at it and we agreed on a price. This was last Thursday. He told me he couldnt get all of the money until Monday, and gave me a $200 check to hold the car in case anyone else called to tell them it was sold. I wrote him a receipt that stated he had paid 200 toward the total price of the car. I had two calls over the weekend, and I told them the car was sold. Then Sunday night he tells me he has changed his mind, and wants his money back. I had already cashed the check and didnt have the money. I felt inconvenienced, to say the least, because I could have possibly sold it over the weekend, and probably for more money than I was getting from him. However, I want to know if he is legally entitled to receive the money back, all or a portion. We live in Texas.

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My response:

The deposit was meant to hold the car until your buyer could obtain their own financing or get approval; e.g., the rest of the money, from another person. When you accepted such deposit, there should have been an agreement in writing between both the buyer and the seller that says whether the deposit is refundable or not. When the deposit is merely a method of holding a price on a car, that information should be noted on a buyers receipt. You should have made sure the buyer knew, in writing, that the vehicle was still for sale and may be sold to another buyer if they are not prompt in accepting the agreed upon price and executing their option to buy. Your written receipt should have clearly stated whether or not the deposit, or any portion thereof, was refundable. The conditions of the refund should have been apparent, and in writing, to both parties. Without a written agreement that spells out terms and conditions regarding a refund, the deposit may not be retained by the you.

Return the money, it wasn't yours. Otherwise, you're going to lose in court.

IAAL

Reply

I feel that I was paid to perform a service for the buyer, to hold the car over the weekend. This is what I did. The receipt stated that he had given me 200 towards the total price of the car. I just feel like I was taken advantage of, since I could have possibly sold the car over the weekend. But I told the people that called that the car was sold, as the buyer paid me to do. It seems unfair. I know that I personally would like to be refunded if I were the buyer, but we dont always get paid for being ignorant. That is just how I feel, although it probably isnt right.

It's o.k. to feel the way you do. Most of us have felt the same way. The key is to use this as a learning experience. Life is full of ups an downs. If you can learn from the downs then eventually the ups seem to outweigh the downs.
If you don't learn from the downs then eventually your life will feel like this: up...own..up...down...up...down...up...down...up...down...up...down...up...down...up....down....up...down...up...down....then an occassional repetitive down...then back to up again ...down...up...down....up....down....once in awhile two ups in a rown...but then back to down...then up again...and down...and up....and down....and up....and down

Daily words of encouragement. by Jack Handy