Time payments and deposits. Need input.

[Timmay]

Hi all and thanks in advance.

 

I need some input on behalf of a boardie.

 

Boardie advertisers book for sale here. Other boardie PMs about time payments.

11/26:Priced is agreed upon: $1600 total.

I'm thinking $600 down as a deposit, $500 in a month and then $500 a month after that.

 

That time payment sounds great to me and I could give you the $600.00 this friday 11/30. My email address is xxxxx@xxxx to send invoice, or would you prefer check?

 

Just to be clear. The $600 deposit is non-refundable in the event that you change your mind or don't make the later payments. I'd prefer Paypal for the deposit. That way I can take the book off the market. A check is fine for the balance and would be appreciated.

 

Sounds good.

 

11/30: Payment received via Paypal ($600).

 

1/14: Seller notifies buyer that it is 2 weeks past time for second payment ($500).

 

1/15:

Sorry xxxxxx,

I had an [reasoning removed] last week screwing me over. I'm gonna send final two checks to you to cash on 1/25 and 2/8. If I can sell some comics it will be quicker than that. I've been panicking with this [reasoning removed] and forgot to respond. I'm sorry and really live that comic.

 

Thanks for the update.

 

1/16:

I'm gonna send both checks tomorrow. I will message you when I do.

 

1/21:

Hey xxxxxx,

Both checks are in the mail.

 

1/23: Buyer purchases $1200 book in CLink auction.

 

1/27: Seller sends notice that he has not received checks, is cancelling the deal and listing the book on Ebay.

 

Buyer expresses remorse. States that if seller gives $300 refund, he "won't try to fight this in any way." Seller notifies buyer that he is considering a partial refund of the deposit, after book sells on Ebay.

 

Seller and Buyer exchange PMs and discussion devolves.

 

Should seller offer full refund, partial refund or no refund at all?

[shadroch]

I'd refund the money and out the person. However, since he asked for $300, that is what I'd give him.

Still out him as a person who failed to live up to his promise.

[Bill1]

No refund-- you kept your end of the bargain, and even gave a little extra time. You did nothing wrong. However, since he paid with Paypal, he may be able to open a dispute with them?

[Conan_Aficionado]

I'd refund the money and out the person. However, since he asked for $300, that is what I'd give him.

Still out him as a person who failed to live up to his promise.

 

Reasonable enough.

[youfoundjake]

No refund. That means less money the buyer has to short the next seller and perpetuate the cycle.

[revat]

You don't really owe him anything, as you've lived up to your end of the bargain. But I'd refund him the 300 to just get rid of him. You basically got 300 for reserving a book for 2+ months.

[greggy]

People have to be taught personal financial responsibility.

 

This wasn't caused by some unforseen situation.

 

It was exacerbated by the fact that the "buyer" decided to buy another book before the first one was paid for.

 

Greg

[miraclemet]

A) Keep the deposit in full and dont out him (since keeping the full deposit amounts to both parties fulfilling the contract)

or

B) Agree to the partial refund, breaking the initial contract and out the guy.

 

C) it might be worth outing him regardless for pulling the "checks in the mail" when it isn't move anyway...

 

 

[Guardian Comics]

Seller should keep the deposit, and appears to have been more than lenient in letting the buyer make good, even though deadlines had past.

 

Jim

[G.A.tor]

10-20% non refundable deposit is generally reasonable and accepted in our hobby...

35% + is, by most accounts, "excessive" from a non refundable deposit standpoint...

legally, sounds like seller can keep the entire 600, but might not be the "right" decision..

 

...

 

reason for the 10-20% non refundable deposit is to protect seller against regular price fluctuations...

no books should fluctuate 35% in 2 months if priced fairly to begin with, imo

 

I would sell book on ebay, and keep amount of deposit necessary to make the original sale price whole...then refund the requested 300 or balance not used in ebay fees and potential loss on sale price

[miraclemet]

 

I would sell book on ebay, and keep amount of deposit necessary to make the original sale price whole...then refund the requested 300 or balance not used in ebay fees and potential loss on sale price

 

this to me is an EXCELLENT approach.

 

Ensures that the seller gets his expected $1200, and the non-buyer is still culpable should the seller end up with less that the $1200 expected.

[Erndog]

Well, I think the seller was pretty reasonable and fair and has every right to keep the $600 if they choose too.

 

Personally? I'd give him the $300 back like he asked, and call it a day. I'd also notify my good peeps (the guys I do regular business with on here) that the buyer could be a shady dude and to proceed with caution.

[MagnusX]

A) Keep the deposit in full and dont out him (since keeping the full deposit amounts to both parties fulfilling the contract)

or

[font:Book Antiqua]B) Agree to the partial refund, breaking the initial contract and out the guy. [/font]

 

C) it might be worth outing him regardless for pulling the "checks in the mail" when it isn't move anyway...

 

 

[font:Book Antiqua]+ 1[/font] (thumbs u

[mar-vell]

How did you know the buyer won a c-link auction? Was he foolish enough to win it and brag about it here?

 

Personally i would out him to the community. Then give him a chance to clear it up in order to get off the probation list. If not then i would consider refunding the $300 just to be done with it but you are justified in keeping all $600. a major business would under those terms.

 

I really think he should be outed if he made a commitment here and then bought books elsewhere instead of making good we don't need buyers like that here.

 

 

[MagnetoWasRight]

The seller has every right to the 600.00 initial deposit. The seller was also VERY nice to allow for extra time to make the follow up payments. As far as I'm concerned, the seller keeps the original 600.00 and then outs the buyer for attempting to get back 300.00 after not living up to his promised end of the deal. If anything, the buyer should have apologized and at the very least, walked away from the deal minus the deposit that was agreed. Attempting to recoop 300.00 after the fact makes me want to know who this boardie is so I can avoid him in the future.

[VintageComics]

Stuff like this happens all the time.

 

I had a customer beg me to take his money for a book. He even kept upping his price, he wanted the book so badly. Even have an email stating I could keep it all if he didn't pay up on time but I told him that I only need a 20% deposit down which is non-refundable to help defray costs in case he ends up not taking the book. 20% seems to be a common practice among dealers so that is where I got the number from.

 

Anyway, after a lengthy email exchange clearly explaining both of our expectations he ends up giving me only 10% (about $300) and then two days later asks for it back because his wife won't let him buy the book. I told him that the deposit is non-refundable as per his agreement and that I would be happy to keep the $300 on file as a down payment towards a later purchase when he's ready.

 

He emailed me back telling me he wasn't happy with the way I handled it.

 

 

As far as I'm concerned, sometimes you need to teach people how to treat you and sometimes people need to feel the consequences of their actions.

 

Like I said, this sort of thing happens all the time. Some of the stuff you have to put up with as a dealer is mind boggling and yet you have to pretend it's all ok.

 

 

[InvstmntComcSuply]

A) Keep the deposit in full and dont out him (since keeping the full deposit amounts to both parties fulfilling the contract)

or

B) Agree to the partial refund, breaking the initial contract and out the guy.

 

C) it might be worth outing him regardless for pulling the "checks in the mail" when it isn't move anyway...

 

+1

especially regarding the "checks in the mail" routine

[COI]

In a situation like this, you aren't going to "teach" anyone anything. People find ways to rationalize their sh11y behaviour, and if you try to "teach them a lesson", it won't end well in most cases.

 

If the buyer has been polite the whole way through, I'd probably just keep half the deposit and be done with it. A $300 deposit for a $1600 book is reasonable enough. But if he's acting like a doosh, keep the full deposit.

 

 

[oakman29]

The seller has every right to the 600.00 initial deposit. The seller was also VERY nice to allow for extra time to make the follow up payments. As far as I'm concerned, the seller keeps the original 600.00 and then outs the buyer for attempting to get back 300.00 after not living up to his promised end of the deal. If anything, the buyer should have apologized and at the very least, walked away from the deal minus the deposit that was agreed. Attempting to recoop 300.00 after the fact makes me want to know who this boardie is so I can avoid him in the future.

I agree! The seller lived up to their end of the deal.

[Green]

Id keep the 600 and out him. But thats just me. Also, can i pay the 1000 balance and get the book?