Badger

I've always considered deposits on private sales almost entirely as protection for the buyer, not the seller, ie a guarantee they won't sell the car, a sort of first refusal.

I can't see how one can really refuse to return a deposit if the buyer backs out - the seller's the one responsible for the condition as described etc etc.

IANAL etc

Lurking Lawyer

Depends entirely on what you agree, Graham - it's entirely open to the parties to agree how the deposit is to be treated. In the absence of agreement, it's a bit of a grey area as a matter of law - probably leaning towards the seller's side, with it being construed as a holding deposit.

Of course, getting someone to agree to it being forfeited if they do not complete the purchase is another question entirely......!

RichUK

I usually work on

cheshire_carper

A monkey should do it, in cash.

RichUK

The if you wished, at a later point, you could spank that monkey.

Paper Lawyer

Chris Type R

You've bought & sold cars privately before then Rich ?

MarkB

A nominal amount, paid on the understanding that the seller removes the car from sale, and rectifies any agreed issues before the balance is handed over.

Non-returnable unless the seller reneges on the deal, or an HPI or similar turns up any history the seller hasn't made the buyer aware of.

I'm sure you can turn that into legalese Mark - the amount is irrelevant in so much as it should be enough to be worth not losing to the buyer.

eSeM

[QUOTE=Paper Lawyer,Aug 2 2006, 11:56 AM]

AquilaEagle

So my 10% guess was way over then.

Craig has a point, don't forget the poor pensioners!!