what should i do?

[northstar ninja]

ok heres the situation, im in the middle of selling my 98 240sx... someone stated that he was interested in buying it, and he said he would need about a week to come up with the money. Then someone else expressed interest in the car, and i told the first guy that if he wanted me to hold the car to come and put a deposit on it. The guy came and put a deposit on the car maybe two, two and a half weeks ago, and I've been trying to call him for the past week to have him take the car and make the final payment, but he hasn’t responded at all... I need the money for various bills, and I explained that in the messages I left on his voicemail, and in the email I sent him... its probably been about a month that I've been dealing with him and originally I figured it'd be at most a week long transaction... I told him in the message that if he doesn't come through with the rest of the money I'm going to sell the car to another buyer. This is my first time actually selling a car, do any of you have any thoughts on the situation? How long is reasonable to hold the car for? And then there's the deposit, am i supposed give it back to him? Because my mom said I'm supposed to keep it, but I don’t think that’s right. I don't know what I'm supposed to do... sorry for the long postyour input on my dillemma would be greatly appreciated...-g-

[SmithSR]

At time of deposit did you make a handshake deal that he'd pay in full in a week's time?

You probably don't have anything in writing at this point...?

If you've got a new buyer offering you cash right now, you should call the original buyer, give him fair warning that you have a new buyer on the line and the time window for the original sale has come & gone. It already sounds like he's had fair warning, and his lack of responding within the already agreed upon timeframe would mean to me that he's missed his chance.

That's about all you can do. Return the deposit, unless you had him sign a binding contract that stated he was giving you a non-refundable down payment/deposit. You don't need an angry guy showing up tossing rocks through your windows because you're "keeping his money"

[krazy skwerel]

I don't think I would ever "hold" a car for a buyer. Give me cash, or check take the keys and title and get out. No need to hassle with all that payment crap. You are not a dealer, so you shouldn't have to operate like one.

[northstar ninja]

i contacted the other person that was interested in buying the car to see if he was still interested in buying the car... the entire deal has been pretty informal, i figured that if i wanted to buy a car and i had money on the line i would defentally keep in touch with the seller... it was never agreed apon if the deposit is,was refundable, nor did we shake hands on the time frame of the sale. i just took his word at getting in toiuch with him the next week and finishing the sale... It dosen't make any sense to me on why in the world he wouldnt return my calls, or emails. I still have the title, i have his money, and i still have the car... For him to not keep in touch dosen't make sense...

[northstar ninja]

he still hasnt gotten in touch with me... i hope he didnt get deported or arrested or something like that... anyone else have any ideas on the issue?thanx-g-