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Thread: Deposits

  1. #1

    Deposits

    Out of interest, how long would you hold something on a deposit, if you haven't heard from the buyer.

    Obviously if terms are agreed before the deposit, they would stand.

    But what if, for eg. A 500 scope, buyer gives a 50 deposit, to pay balance on 20th,
    But nothing heard by three weeks, would you re-advertise and keep the deposit, hold the scope, and wait for when/if the buyer gets in touch, or sell to another but hold the first 'buyers' deposit for a set amount of time ?
    Or other ?
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  2. #2
    I'd probably re-advertise after a month and hold the deposit until the scope sells. Then return deposit to the original buyer.

  3. #3
    Quote Originally Posted by The tramp View Post
    Out of interest, how long would you hold something on a deposit, if you haven't heard from the buyer.

    Obviously if terms are agreed before the deposit, they would stand.

    But what if, for eg. A 500 scope, buyer gives a 50 deposit, to pay balance on 20th,
    But nothing heard by three weeks, would you re-advertise and keep the deposit, hold the scope, and wait for when/if the buyer gets in touch, or sell to another but hold the first 'buyers' deposit for a set amount of time ?
    Or other ?
    what would you do if it was a pup?? Take deposit, agree 'terms' date for payment etc etc and then they don't want the pup or don't bother to get in touch.... Would you offer them a refund? Sell scope hold deposit ( could be a valid reason then I might return) and move on having learned one of life's little lessons....

  4. #4
    I take it you don't have a contact number ,I would move on and sell it as you have saved it for a fair amount of time.keep his money until he gets in touch and as said offer him it back ,it not fair you should have to hold it indefinitely for him

  5. #5
    Let me look after the deposit and i will get in touch by the 20th

  6. #6

    Deposits

    Quote Originally Posted by redlab View Post
    what would you do if it was a pup?? Take deposit, agree 'terms' date for payment etc etc and then they don't want the pup or don't bother to get in touch.... Would you offer them a refund? Sell scope hold deposit ( could be a valid reason then I might return) and move on having learned one of life's little lessons....
    I think, if it was a pup, you'd take a 'non returnable' deposit anyway, which seems fair enough to me, and in that case, I'd think about charging a little extra if they collect late (more than a few days) to help cover extra costs incurred.


    Also, the scope is just hypothetical. Just asking out of interest
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  7. #7
    Private sale? If I was selling a scope for, say 300 then any deposit I'd take would be 300.

    A deposit is to hold something for the buyer and that's what he's paying for. You may lose other chances to sell the item and be stuck if he/she doesn't go through with the deal and you may incur costs re-advertising. Of course if they do buy, then the deposit is part of the price, but if they back out, then generally the deposit is forfeit and I'd make that clear at the outset.

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