Some advice on 'done' deals & deposits please

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What are the circumstances behind them pulling out?
If it's simply that they've changed their mind, then I'd 100% keep 100% of the deposit.
If however they've lost their job or got a family illness etc then I'd suck it up and give them it all back.
As you've said, you can maybe get £1k more selling it to someone else anyway, so it could be a winner for you in the long run.
Karma may smile on you in the long run

He wasted £100 worth of your time coming to see the bike 5 or 6 times. And standing by the original £2,000 price, you may have lost a £3,000 offer waiting for him to SOGOTP.

I don't know.

Honestly? You are in the right, and you know you are.

But....

£2000 is a lot of money for some people to plump up. So is £100. If he's run up a credit card bill, or lost his job, it feels bad to keep it.

I'd probably suck it up and give the money back. There are better ways to make money, and being annoyed just stops you sleeping.

It seems that the situation is pretty cut and dried at least in terms of where you stand contractually. There is no reason for you to feel uncomfortable about the situation as both parties obligations where clearly stated from the outset. Furthermore you have been more than accomodating. Only you can decide if any form of rebate is acceptable to you and that may be determined by your opinion of whether the other party is "at it". As many have stated you are perfectly within your rights to keep the money but at the end of the day you must do what you are comfortable with.

ishaw":37pihc5c said:

I'm with everyone else, you've been clear and have signed proof. My only concent would be that if they are extremely miffed and the sort of person who doesn't like the outcome, they know where you live and what you have in the garage.

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Thanks for your input dude, they have seen some of my collection, however they are not kept where they saw them at my home as I store them all off site away from my home.

Furthermore if there was any hint of potential trouble I would be straight onto the Police and report them.

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M-Power":1yyg1kfx said:

The UK law can vary a bit regarding non refundable deposits, depending on the nature of the transaction. If the goods sold are as described condition wise and both parties agree in writing ( as you have) that the deposit in non refundable, then you don't have to refund it.

Agree with the OP, I have also honoured agreements made to buy things from the US, that even significantly increased subsequently above the original negotiated price. :facepalm:

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Thanks for the comments, appreciate it.

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Gaddmeister":3q1tkl2s said:

I think you have been extremely patient, I would not have let them come back again and again to view it. Your perfectly within your rights to keep the deposit. Guy sounds like a real numpty!

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Thanks pal, appreciate your contribution to this thread.

mkone":3ex6y41u said:

Personally i dont think it is even worthy of consideration. Obviously you are undecided as you are kind. You have already proved that by offering to honour your original price and to lower your deposit. The buyer, i use that term losely , also knows this and is obviously hoping to salvage something from the deal. Which brings me to the fact a deal was made, wether in writing or word. And technically he has already receaved half the deposit back when you reduced the original deposit by 10%. So after me ranting for a bit i feel you are being more than fair Tell him you have sold the bike and used his deposit to celebrate

Mark

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Thank Mark, you're absolutely right. I am kind and dislike any animosity, however they have really messed me around and gone back on their word and the deal which has completely wasted my time.

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66 triumph daytona":1u8n4zx2 said:

Keep the deposit you were more than accommodating.I learned my lesson with "done"deals and deposits recently when I had 2 sets of forks for sale,a guy on here asked me to hold them for 3 weeks promising payment.This I did and meticulously packaged both together and under his request brought them to the post office for a quote.4 weeks passed and nothing,I send him a pm and he replies back saying he doesnt want the forks.The result of this is I only accept dibs or hold an item if a non refundable deposit is paid.It filters out the timewasters.

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Thanks dude, you're absolutely right and that's why I introduced the no refundable deposit about 6 months ago, it as you say 'filters out the time wasters'

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makster":2pqasnsp said:

What are the circumstances behind them pulling out?
If it's simply that they've changed their mind, then I'd 100% keep 100% of the deposit.
If however they've lost their job or got a family illness etc then I'd suck it up and give them it all back.
As you've said, you can maybe get £1k more selling it to someone else anyway, so it could be a winner for you in the long run.
Karma may smile on you in the long run

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Thanks for the comments, to be honest I think yes they have changed their mind. They have known about this deal and been part of it for at least 8 weeks prior to putting the deposit down, remember they have seen the bike at least 3 or 4 times. So I can only really think it is truthfully because they have changed their mind, rather than something else. Yeah I 'may' sell it for more but I have to start the entire process again and this may take time. They've severely wasted my time. To be honest if the buyer had fallen on hard times, then yes I would refund them in full but they haven't, plus not at any point have they actually apologised, just that they have had to pull out. They have no sense of the fact that messing people around is unacceptable.