Buyer backed out - Would you refund deposit?

[sk!mom]

I may be paranoid but I would return the deposit. I would view this as a stranger who now knows where I live so I wouldn't want to keep his money. I might deduct the cost of relisting but my DH would likely veto that and we'd just refund it all.

One other thing, was there anything in writing saying that the deposit was nonrefundable. If not then I wouldn't want to be possibly drug into small claims court over $100.

Sorry that things didn't work out.

 

[Kika]

I know it was an inconvenience, etc., but I would probably give the guy back his deposit and sell the truck to someone else in the name of good karma.

Sorry this one didn't work out.

 

[poohfriend]

I would be inclinded to refund the deposit minus relist fees (if this applies).

it's how I would want to be treated.

added to that if he came to your home, he could chooose to make your life miserable over $100...not worth it!

 

[pearlieq]

I would tell the non-buyer that once the truck is resold, you will refund his deposit minus the cost of any advertising you need to do to complete a sale.
Call back others that were interested - if they ask why it didn't sell, tell them the other person changed their mind.

I think that's an excellent idea!

 

[horseshowmom]

I don't think you're under any obligation to return the deposit. IMHO, a deposit is put down to keep you from selling something with the promise of the rest of the amount coming shortly. Since he didn't provide the rest of the purchase price (his own choice), he should lose his deposit.

However, I would probably return the money to him just because I wouldn't want to deal with the hassle. I also wouldn't accept any more deposits. First one with the money, gets the truck.

 

[msmayor]

I don't think you're under any obligation to return the deposit. IMHO, a deposit is put down to keep you from selling something with the promise of the rest of the amount coming shortly. Since he didn't provide the rest of the purchase price (his own choice), he should lose his deposit.

However, I would probably return the money to him just because I wouldn't want to deal with the hassle. I also wouldn't accept any more deposits. First one with the money, gets the truck.

Imagine if Disney took this approach with every single deposit they took on rooms and packages.

Unless you specifically discussed that the deposit was non-refundable, I don't think you can hold the money.

 

[horseshowmom]

Imagine if Disney took this approach with every single deposit they took on rooms and packages.

Unless you specifically discussed that the deposit was non-refundable, I don't think you can hold the money.

I understand what you're saying, but I don't view them as being the same kind of deposits. This deposit prevented the truck from being sold to someone else. Generally speaking, a deposit on a Disney room or package does not prevent them from booking other rooms for other people. JMHO