|
|
Posted by jeff s. on Wednesday, August 19, 2009 at 09:46:00 :
In Reply to: I've been "Willy-N'd" posted by Arthur P. Bloom on Tuesday, August 18, 2009 at 23:27:28 :
The obvious question is if you wrote out a bill of sale with the terms , or it was a verbal handshake deal.
I'd almost bet his wife doesn't even know he bought it. A friend of mine bought an incomplete 43' sailboat, and kept it a secret for four months. He was happy just to get out of it losing only $8,000, after he told his wife and admitted his mistake to himself.
A polite registered letter outlining the terms of the sale, the circumstances, and a request to respond would be the best first step. Assuming it doesn't work out, and you have documentation communicating the steps, you short-sell the vehicle, and and refund whatever he's paid you above what selling price you originally agreed with him on... less reasonable expenses, and possible token interest.
The economy has probably hit him & he has buyers remorse. Another alternative is to sell him on "the softening of the market","because of this delay you caused, now I can't sell it for as much as we agreed to" story, & make HIM come up with a workable solution kind of like the short sale, so that you keep a certain amount of money, the PW, and you both walk away, and you do this before you try to sell it again to someone else.
You need to establish documentation of facts in case it ends up in court, plus you need to show a good faith effort in court to prevail. I don't like lawyers & I don't see a need to run to them early so long as you document & protect yourself.