westernrvparkowner wrote:
Deposits are typically refundable, despite what most people want to believe. The entire transaction is going to be done on faith and goodwill until the actual funds to purchase are exchanged and buyer takes delivery.
While you can go through a whole bunch of legalize and probably create an enforceable document, you will also be creating some legal issues for yourself. The document is going to have to spell out all the potential contingencies that could happen. What if the buyer dies, becomes incapacitated, loses their job, their house burns down with the cash to purchase the rig inside etc. etc. etc. On the other hand, what if the rig burns to the ground, or a tree falls on it, or the neighbor kids decide it is a great canvass for graffiti? You are going to spend a lot of time and money for nothing. There isn't a contract you could create that would force the buyer to buy if they change their minds. You might, and I stress might, be able to keep a small deposit, but you would lose in court if the deposit was deemed to be too large for the transaction. For example, a $500 dollar deposit on a $20,000 transaction may hold up in court, but a $10,000 deposit never would. After spending a day or two in court, would that $500 be worth it, especially if the buyer actually had a legitimate reason for backing out? (i.e. would you feel good about enforcing it on someone who just got diagnosed with terminal cancer?)
Just take a check for a deposit and hold it. Tell the buyer you are going to take back up deposits if the opportunity arises and proceed accordingly. Set a closing/delivery date that works for the absent seller and move on. If they back out, they back out. Tear up the check and go on with your life. The very worst thing that can happen is you lose two weeks of selling time in January, which isn't the greatest selling season anyway. RVs are not like fruit and meat, they don't have a short shelf life.
Like I previously posted I really like the arm chair and RV.net attorneys who speak what they know not.
I am an attorney (OK do some attorney jokes...I think they are funny too) and as I previously posted if the transaction is 4 figures then just wing it. If it is 5 to 6 figures get an attorney to write up the transaction hold the deposit money, and help with titling (especially if the deceased husband owned the motorhome and died w/o a will).
