When a sale is not a sale

time2roll wrote:

Seon wrote:
Even though the check was cut in front of the seller, couldn't the buyer put a stop payment on it afterwards? Just asking...not for a friend.

There would be far more difficulty. The person would have to demonstrate something extraordinary to cancel the deal with the credit union. Basically it would not be his check to void as he could not claim it was lost or destroyed while in his possession. Also title would be held by the bank and would not be given to the buyer if he tried to cancel the deal. Credit union would probably contact the seller before doing anything so as to keep all parties involved.

This is what I understand. I did ask this question and the credit union said. . . why would we do that. It is the credit union's check, not the buyer's.

My listing is up now, so I hope I find a buyer. I actually have $500 of his money, which was to hold it for the inspection. I told him if he decided to buy it, it would go toward the purchase and if he chose not to, I would refund it. But that was almost a week ago and he has been silent now for 2 days. Last thing he said was, "This is getting way too complicated" and "I haven't even drive it yet."

I've moved on.

Dale