Forum Discussion

tyoungs's avatar
tyoungs
Explorer
Jan 25, 2017

How to document a "deposit" on a private party sale?

Helping a good friend who lost her husband just before Christmas - she is selling her motor home and I am handling all the contact with "prospects". Showing the unit tomorrow and if they want to purchase, what is the proper documentation for taking a deposit. We won't be able to finish the deal for about 2 weeks as the owner is out of town. So I want to be able to take a deposit with the understanding that it locks both of us into a specified deal.

I could come up with some appropriate language but I thought I would ask the all-knowing on here. Any suggestions would be greatly appreciated.
  • westernrvparkowner wrote:
    Not to be a spoil sport, but how would most people feel on the other side of this transaction. Some guy is asking for people to leave a non refundable deposit on a RV he does not own and has no ability to legally sell. That deposit will either need to be cash, or a check made out to either the non-owner or to someone the buyer has never laid eyes on. Not much recourse for the buyer should the whole thing be a scam.
    If I was the buyer, I wouldn't offer anything other than a hearty handshake and my phone number for the owner to call when they are able to actually complete the sale.

    Now that's a good point that none of us thought about.

    Mike
  • OP here - on-line document worked just fine - nice couple drove 100 miles to see the coach and offered a fair price to purchase. Gave them receipt for the modest deposit (they offered to pay full cash on the spot) and recognized that owner will complete sale when she gets back from Fla in about 10 days. Receipt had my name and owner's name on it and was acceptable to both parties.
    Appreciate all the legalese but this transaction was based on a mutual feeling that we were dealing with honest folks on both sides. Guess if I was in more metropolitan area I would be more worried about being scammed and I guess they trusted me enough to leave a $500 check made out to owner, not me.
    Bottom line, glad I could help a friend who is going through a really tough time. We only advertised this on RV Trader last Tuesday and apparently priced it right because we got good response (2 folks were waiting to see if this couple bought before they came to look at). Got a nearly full price offer because it was a clean low mileage unit that was obviously well maintained.
  • Glad it worked out without any hassle.

    Nice that you helped them out as well. Good on you.

    Mike