I have somone interested in my car, he's had RAC report done, driven etc and is keen. But I'm yet to see a deposit and he's sent me a 'letter of offer' to buy the car, but saying this is subject to finance within 21 days. Does this mean if I accept his offer I can't sell my car to anyone else until the 21 days are up? His letter below:

The reason why i am offering $37,000 instead of your asking price of $38,000 is because both of the rear tyres need to be replaced and i am deducting your share of the RAC inspection report (to follow). I have based the replacement cost of the tyres off a quote from Bob-Jane for a pair of 245/45/r18 bridgestone tyres, for which i was quoted $405 each. The RAC report cost $295, which means your share is 145. That comes to just over 37k.

This offer is made subject to me being able to obatain finance within 21 days of the offer being accepted you.

let me know what you think

money up front or fuck off!

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MY93 Impreza GX 1.8L, 0hp, 0nm

$405 a tyre wtf
agree with jester.. but hey, kinda hard to sell cars lately so if hes positive he can get finance i would take it

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MY02 WRX STi - sold :(
'12 Golf GTI

probably be RE050s.. expensive little shits, problem is thats what Holden uses on the VE range too.

From my understanding, if you accept, then he has 21 days to come up
with the money. If someone else offers you more in that time and you
decide to sell, then his bad luck.

Roughly the same as a house. You can
put in an offer on a house which is accepted, but before you sign/seal it someone
else can offer more and sign/seal before you and walk off with the house.

From what I can tell, by you accepting, he gets a guarantee that if he can
get the money in that time, then the price is fixed (ie, you will not ask for
more when it comes down to a cheque in 18 days). This also allows him
to let the finance company know the price details etc...

You could accept it with the condition that "if someone else offers more
then the sale will be made to them"

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[SIGPIC][/SIGPIC]

My flame suit is on. Give it your best biatch.


[COLOR="Red"]My STI's carbon emissions are offset by killing puppies.[/COLOR]

OK that makes sense. I'm not sure why he's mentioned 21 days. It surely doesn't take that long to find out whether or not you can get finance?

And yeah the tyres are that much

my understanding is that if you get a higher offer you have to give him the option to come up with the difference before you take the new offer.

wouldnt you just say you got an offer of $38,000 so he has to come up with the cash??

and why do you have to pay half of the RAC report????
you know the condition of the car.....

Offer + Acceptance of that offer = legally binding contract.

Do not accept the offer unless you want to be bound by that contract.

Like fobz said, I'd recommend for you to add your own condition so that you are not stuck if someone else offers you more or the same, in cash then and there.

Agree

Offer + acceptance + legality + intent + consideration = a binding contract in most cases.

He should also pay a deposit (consideration or promise of) - if you accept his offer you cannot sell the car to someone else until he defaults on the 21 days or communicates to you that he cannot meet the condition.

This doesnt stop you from showing it to other prospective buyers and saying that it is under a offer but you'll know if its available in a few weeks and you'll call them if it falls through.

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Arguably my Automobile is Awash with Alliteration - Subaru Sti S202