Can I keep a deposit somebody gave me for my car after 4weeks?

Question

I have been trying to sell my car and a lady gave me a deposit about 4 weeks ago, however she keeps fobbin' me off sayin' she'll be down at the weekend or tuesday and so on and won't answer her phone. Now somebody else is going to buy it but for €200 less than what the first lady was giving me. I didn't advertise my car at all for the 4weeks I had this deposit and it could have been sold by now so am I entitled to keep the deposit? Can this person who's deposit I'm keeping take any legal action even if it is only €200?

Answer 1

You should have had both parties sign an agreement that states the deposit is non-refundable and you will give the buyer 10 days to complete the transaction.  If no prior arrangements are made, on the 10th day I (the seller) will be at XYZ bank between 9-10 to complete the transaction. You then go there. That way the seller can not make up some story you did not call them back, they tried to meet you etc.

Better idea. I never take a deposit or offer to hold a car. When someone says they will have the money in 15 days, I say great, call when you have the funds and if the car is not sold then you can make an offer.

If you keep the money and she takes you to small claims court, what is the worst that will happen, you have to return the money.

If your agreement was that this was non-refundable, then keep it. If she does want it back you can say you will think about it and tell her to call next week, then schedule a meeting then call to cancel, a little payback.

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Answer 2

Depends on the conditions you established as part of the sale. Many sellers will state up front that a deposit is non-refundable as part of securing the deal by taking the vehicle off the market. 4 weeks seems a bit extreme for the buyer to follow through, but if you didn't make this clear up front, there may be an issue on out-and-out keeping it.

I suggest that you establish a firm date (such as 10 days) in which the seller must complete the deal or the car goes up for sale again. You could infer the non-refundability of the deposit by telling her that you will return her deposit ONLY if the other sale is completed.

Might give her the push to complete the deal.