Deposit return

Stacy Wines

New Member
I made a deal to sell a camper to someone who said they could give me a deposit and then make two more payments to pay it off. The date for the first payment came and they could only give me another $200 to hold it and promise to pay again within a month: Next payment dat comes and it is $900 less than agreed upon. So now i have $1500 total with the two deposits and payments. Now they say they cannot pay more than $100 so i said deal is off i need to get it sold and relist it. I will return money upon sale since i already put the original $400 back into the camper to make it ready to go for them. now they r giving me a deadline to return the money. Do i need to return any of it within a deadline or at all???
This is why you should never take deposits and/or payments. Somebody wants to buy something, get the whole amount in cash or keep marketing it until somebody else buys it.

Do i need to return any of it within a deadline or at all???

Within a reasonable amount of time. What's reasonable to you won't be reasonable to the buyer so sell it as quickly as possible. If you have to drop the price due to market factors beyond your control the buyer will owe you the difference.

I suggest you put something in writing to the buyer to that effect.