Is the deposit refundable?

[MercedesDriver]

The story is:
The buyer buys my Mercedes on eBay and pays the deposit by Paypal.
He comes with his wife to pay the rest (bank transfer) and to collect the car.
Everything goes well, they are happy with their purchase, and she pays by BT to my account. Because of security checks bank calls her and she confirms the transaction. I'm waiting for money to be shown on my account but it doesn't happen after some 30 minutes.
She calls her bank and the operator tells her that she has make the transaction again as it was only approved by bank but was not cleared and that this 2nd time it will go through.
At that moment he, the buyer, decides to cancel all and not to buy the car because of "bad feeling" as it didn't worked first time.
Both his wife and I are totally confused by his behaviour, but he is firm that he doesn't want to complete the transaction and they both leave. She apologises several times.
Now, I have their ( hers) deposit which she paid by Paypal as per my invoice on which it was stated that it is a deposit for a car. I told them that I will not return it as they just waisted my time and they both appeared to be agreeable with it.
Do I have to return this deposit or not?
By the way the buyer is looking for a Merc so be vigilant. Ebay id ken_uk6

 

[flowrider]

I think legally you have to state the deposit is nonrefundable otherwise it needs to be returned but if the couple were happy for you to keep it then do so.

 

[Deleted member 6183]

It will be a real test of your moral fibre to ask yourself what you wish to do.

 

[Meldrew2]

As far as i understand the law...

They have breached the contract to purchase your car. You are entitled to sue for your losses due to this breach.

Losses might include ebay & paypal fees, the cost of readvertising, your time, any shortfall if you are only able to sell the car for a lower price, etc, etc. If the sales proceeds would decrease your overdraft / credit card, I believe the interest is also eligible to be added to your losses.

You would IMHO be entitled to retain the deposit until you can calculate your losses. You would then be required to return any excess - but be entitled to claim any additional shortfall.

Perhaps this is one for Judge Rinder...

 

[400ixl]

Equally, they had entered into a contract to purchase the car. If it was not as described then by Ebay rules they had no right to not complete the transaction.

Quite separate to the morality on the sellers side of course, but they entered a contract for far more than he deposit.

 

[Deleted member 6183]

As far as i understand the law...

They have breached the contract to purchase your car. You are entitled to sue for your losses due to this breach.

Losses might include ebay & paypal fees, the cost of readvertising, your time, any shortfall if you are only able to sell the car for a lower price, etc, etc. If the sales proceeds would decrease your overdraft / credit card, I believe the interest is also eligible to be added to your losses.

You would IMHO be entitled to retain the deposit until you can calculate your losses. You would then be required to return any excess - but be entitled to claim any additional shortfall.

Perhaps this is one for Judge Rinder...

I've rarely seen such a punchable face.

 

[markjay]

I don't disagree with what others posted, just to say that I don't think that the behaviour of the buyer while finalising the transaction has a material influence on the legal position - as said, he already entered into a binding contract at the earlier point of time when agreeing the purchase and paying the deposit.

 

[MercedesDriver]

The reason for his canceling of the transaction is not because the car is not as described but because of his "bad feeling" about bank transfer. I forgot to mention that he filled the V5 with his details as a new keeper and have signed it. Do I need to apply for new log book or I can still use this one and just crossover his details for some new potential buyer?

 

[Bobby Dazzler]

The reason for his canceling of the transaction is not because the car is not as described but because of his "bad feeling" about bank transfer. I forgot to mention that he filled the V5 with his details as a new keeper and have signed it. Do I need to apply for new log book or I can still use this one and just crossover his details for some new potential buyer?

Whether you need to or not, I'd get a fresh one. You don't want to give a second buyer a bad feeling about the reason why the first buyer a bad feeling about buying your car.

Because if they walk away, then you're looking at the potential for a third buyer to have a bad feeling about why the second buyer had a bad feeling about why the first buyer had a bad feeling about buying car.

Good luck with the sale.

 

[Deleted member 6183]

Have you considered just talking to the bloke?

Ignore the litigation-happy merchants on here, they are gagging for it.

 

[MercedesDriver]

Have you considered just talking to the bloke? Ignore the litigation-happy merchants on here, they are gagging for it.

Of course I did but he just got bad feeling because the money wasn't transferred on first attempt. Crazy.
His wife couldn't believe it and he dragged her (she walks with a walking stick) on trains and two tube changes to come here from Berkshire. Two hours at least of travel agony for her and I honestly fell sorry for her after all he did. Must say she was very kind and apologetic.
Crazy people are walking among us these days.

 

[Deleted member 6183]

Of course I did but he just got bad feeling because the money wasn't transferred on first attempt. Crazy.
His wife couldn't believe it and he dragged her (she walks with a walking stick) on trains and two tube changes to come here from Berkshire. Two hours at least of travel agony for her and I honestly fell sorry for her after all he did. Must say she was very kind and apologetic.
Crazy people are walking among us these days.

So, what are you going to do?

They don't trust you and she is a cripple, how long are you going to hold their money for?

 

[TripleD]

The reason for his canceling of the transaction is not because the car is not as described but because of his "bad feeling" about bank transfer. I forgot to mention that he filled the V5 with his details as a new keeper and have signed it. Do I need to apply for new log book or I can still use this one and just crossover his details for some new potential buyer?

V5 can be filled out online for instant transfer without the need to post, so just do that with the next buyer on the deal website AFTER the money has transferred.

As for the deposit, keep it! It's due to their own choice and failings. If you feel it right to hand it back, then that choice is yours.

 

[camerafodder]

Give 'em the money back, move on.

 

[Tiim533]

If would depend on the size of the deposit. £100 keep it for your time and effort. £500 probably return £250 and say you're retaining the rest...

 

[rockits]

Split it 50/50 and you split the pain. Fair both ways. You shouldn't be out of pocket but shouldn't really profit from it.

 

[tylerdurden]

Don't understand this. They are pulling out because a bank transfer didn't go through? I have found them so reliable to date. Only time it's been rejected was if I had inadequate funds.

I suppose it's down to the exact legal wording of the contract. I doubt an eBay system would make deposits unrefundable given you need to view the vehicle.

Interested to know what you did in the end.

 

[rockits]

It is a legally binding contract at the end of the day unless the car wasn't as described. You could enforce it but not worth the time & hassle in litigation IMHO.

Take half the deposit to compensate you for your hassle & time and all is good. Karma is not upset & you can put your head on the pillow at at night & know your did the best/right thing.

Not worth selling the car to them now as they sound like there could be further hassle. Although private sale is sold as seen it isn't worth the hassle.