Alternativey, as a gesture of good will offer him half the deposit back and say you will do a revs check free of charge, (arent they $12 with a certificate?) before hes signs the transfer papers tomorrow to make him at ease that all is cleared. Perhaps get the RAC to fax you something to say that nothing is owing on it anymore as well and hand him a copy of that.

End of the day though, choice is yours. All the above is just advice.

thanks guys for all your input

i was unsure what to do in this situation so thought id ask, bit of a touchy issue, seems as though everyone is split down the middle abit.

i can see it from their pov and understand why they can be abit hesistant about the deal. But at the same time dont see why they cant wait a day, had it still not been sorted out by the end of the week id prolly offer to give it back

In the end i guess its up to me, im going to try to convince them to wait a day, if they wont ill proly end up giving them half it back.

thanks for the input fellas.

Looks like you need to consult lawyer cat.
[IMG]http://i29.tinypic.com/2dtdw86.jpg[/IMG]

Personally I think a one day discrepancy shouldn't allow the buyer to renegade upon the deal when there is a reasonable resolution. Keep the deposit or better yet give it to me. Don't let people walk over you buddy.

I actually had a similar problem. The dude had paid 99c extra on the loan and therefore the balance didn't match up on the banks side.....and the car hadn't been released, and rev check showed that the car had money owing on it.

I just told him I'd buy it if it cleared. I reckon the buyer is just trying to get out of the deal.

He should at least buy you a beer for taking back the deposit.

Im with Russ.

Give money back. No dramas. You made them wait. All parties walk away happy. He/Family doesnt come after you, (over what really is a small amount), through the courts, or as Russ eluded to, other means.

You re-advertise, sell, get your coin, spend it again! :)

You still win.

Brent.
:)

God I was thinking you were talking a grand or more as a deposit. For all of $200 bucks just give it back. Take the lesson of putting things on paper in future as suggested and move on.

For my 2c worth... I would offer them half the money back. That way you cover the $100 you lost whilst waiting for them. Make sure you explain the reasoning behind why your only refunding half, that you also lost money.

I would also mention again that the car is definitely not under finance and it's just a paper work screw up which whilst not his fault, is not your fault either and as a gesture of good will you're refunding the $100.

Generally:

If seller is at fault for the deal not going through: Deposit is refundable.
If buyer is at fault for the deal not going through: Deposit is non refundable.

In this case the car wasn't ready when specified (even by one day) so the deposit should be refundable. All this was the seller's fault for not clearing the issue up before the car went up for sale - Definately not the buyer's fault.

$200...why are we even discussing this? Give the lad back his money. With that small amount of deposit I wouldn't have turned down other potential buyers, in fact I would have turned down the small offer and said come back when you got your finance organized.

money is going back, the young lad prolly needs it more then me, i dont really care. thx for input

end thread k thanks bai!