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

I just love all of these arm chair attorneys.

You can do anything you want, and if all goes well, then it is no issue. If things turn sour, then your "RV.net" attorney advice may get you into more trouble. If the sale is for just a few thousand dollars, then winging it probably is OK. If the sale is 5 to 6 figures, then pay a local attorney $250 to $500 to handle the transaction. That gives peace of mind to the buyer and seller.