Only refund full deposit?

You can wait to receive lawyer letter.

Like how? The deal isn’t successful, returning deposit to interested buyer and he/she should not lose anything?

Furthermore and legally I’m the owner of the vehicle.

Let’s debate on this kind of topic.

Firstly,
Logic thinking, emotion & feels for each person is not the same.

Your debating only on logic while neglecting emotion & feel.
- Directly speaking is you are wasting the buyer's time whereby he / she could use it elsewhere.
- Normally you've to discuss with buyer & also see whether buyer accept only the deposit.
Wait a second, did you people sign something for the deposit process?
- So what are the TnC?
Normally who can't fulfil promises, he / she had to compensate extra to another party.
- No matter you are a person or a company.
It all depend on your buyer's ability & kindness.

Like how? The deal isn’t successful, returning deposit to interested buyer and he/she should not lose anything?

Furthermore and legally I’m the owner of the vehicle.

Let’s debate on this kind of topic.

Let's say I am selling my own private vehicle and one buyer paid deposit to me with the agreed price. Due to personal reason, I want to keep this car again from selling and willingly to refund full deposit amount to buyer.

Will this brings any issue to me afterward? Legally, I am the owner of the vehicle on paper still.

You better talk properly with him. If I'm you, I would probably buy him a coffee/meal or refund slightly more. Kindly don't be a trash.

Like how? The deal isn’t successful, returning deposit to interested buyer and he/she should not lose anything?

Furthermore and legally I’m the owner of the vehicle.

Let’s debate on this kind of topic.

Totally understand your point on time and effort.

Let’s say nothing was signed, and everything just communicated through social media platform. Whatever agreed was buyer pay deposit to reserve vehicle, while seller performs loan clearance, inspection and wait for inspection outcome. If the deal is unsuccessful from buyer side, amount from deposit will be deducted for inspection fee and the rest will be returned. Now seller is not able to sell vehicle and willing to return full deposit to buyer.

I appreciate you sharing your thoughts here.

Usually market practice is if buyer cancel no refund deposit.
If seller cancel then refund 200%

Ofcourse u can just refund 100% and ask buyer F off or u can dont even refund (if no b&w earlier).
Buyer also cant really do anything legally (worth the time) to u.

200% is a norm in car industry?

Never heard for property

Let's say I am selling my own private vehicle and one buyer paid deposit to me with the agreed price. Due to personal reason, I want to keep this car again from selling and willingly to refund full deposit amount to buyer.

Will this brings any issue to me afterward? Legally, I am the owner of the vehicle on paper still.

The way you wrote "willingly" suggests you think you're doing buyer a favour by refunding him (i stand corrected). Yes, there are people who cheat others by not refunding but surely you don't want to use them as yardstick? As in, as long as I refund, you should be grateful?

How much deposit did you collect?
How long has it been since you collected the money?
How did you communicate? Will he have any proof?

In a commercial setting, the buyer can and will sue. In private dealings, totally depends on the buyer. They either do nothing, sue you or "teach you a lesson".

I would encourage everyone to be neutral in this kind of scenario, or share your past experience if you had any. No hater toward seller or buyer on this kind of situation please.

With the conversation in place between seller and buyer, buyer also did not state any TnC toward seller if deal fails but agreed with seller that deposit is refundable (seller offered refundable deposit process upon deal failure).

So far from those comments, a courtesy call of explanation with full refund of deposit, apology, minor compensation such as a meal/drink would be sufficient.
Like some said, what if the seller facing joy buyer? If given me the scenario, I'd deduct those fee that I spent on those process (e.g. inspection), refund deposit and move on. While I am aware some seller take it as earnest deposit, which they absorb the deposit money without refund to buyer.

As a seller myself, I understand money is hard earned income. Deposit is definitely refundable on my stand.

On how much deposit did I collected? 2% of agreed total price.
Only collected and received about 1 week ago, then went ahead with loan settlement and scheduling inspection on own money.
Social Media platform, voice + text.

So what if facing joy buyer, can seller sue joy buyer after receiving deposit refund due to joy buying?

Kudos to you for not forfeiting the deposit of those who fail to buy. Unfortunately, "expect others to do to me what I do to others" doesn't apply to everyone.
Other sellers can forfeit the deposit of those who back out a deal.
And other buyers will demand compensation for failed deal.
Is a meal or drink enough to compensate? Probably not to a buyer who missed out on another deal after paying you the deposit.

What deposit refund? You choose to refund him and then decide to sue him?

From what I read from internet and shared experience, the word used within the deal is also important.
Deposit and down payment are different meaning. While "deposit" was used within the deal.

Deposit - I am interested, I pay deposit to reserve then we further discuss until full deal stage.
Down payment - I am firm buying this hence I am paying partial amount of the selling price and to clear off remaining balance upon receiving goods.

Feel free to correct and share input on these two statements.
This thread can be a good lesson learning for peoples.

Kind of puzzle me because:

Seller call off deal and refund deposit to buyer, many said buyer can sue seller even deposit is refunded.
Buyer call off deal and receive deposit from seller, can seller sue buyer for being joy buyer?

Several times clients that are purchasing real estate have asked, “Do I really need to give a deposit?” The parties say “This is a friendly transaction, is it really necessary to give the seller a deposit when entering into a purchase and sale agreement?  There are actually several good reasons for requiring a deposit with a purchase and sale agreement.

A Purchase and Sale Agreement is a contract for the sale of land.  In order to have a valid contract the law requires that there be an offer made, an acceptance and consideration for the contract. In a real estate transaction, the offer is made by the Buyer when wanting to purchase the property at a set price.  Acceptance occurs when the Seller accepts the Buyer’s offer by agreeing to sell the property at the set price.  The consideration of the contract then comes from both parties.  The Seller’s consideration is the agreement to not sell the property to someone else during the term of the purchase and sale agreement.  The consideration from the Buyer is the deposit.

apologize saja, wont lose face.

imagine you yourself the buyer, how u feel? dont make situation hostile when our environment already hostile enough.

deal bawah pokok alwiz morally. i myself encounter tis selling my car but due to car not available need to retract the deal..worst is i even settle the outstanding..end of they day, tok nicely n refund back n xtra token..try to look around other similar car n send the contact
end of the day im the 1 sakit hati coz ady fork out $$ to settle the oustanding deal and end u not sellin tat time...

Let's say I am selling my own private vehicle and one buyer paid deposit to me with the agreed price. Due to personal reason, I want to keep this car again from selling and willingly to refund full deposit amount to buyer.

Will this brings any issue to me afterward? Legally, I am the owner of the vehicle on paper still.

xxxxxxxxxxxxxxxx

Let’s say nothing was signed, and everything just communicated through social media platform. Whatever agreed was buyer pay deposit to reserve vehicle, while seller performs loan clearance, inspection and wait for inspection outcome. If the deal is unsuccessful from buyer side, amount from deposit will be deducted for inspection fee and the rest will be returned. Now seller is not able to sell vehicle and willing to return full deposit to buyer.

xxxxxxxxxxxxxxxxxxx

Social Media platform, voice + text.

xxxxxxxxxxxxxxxxxxxxxx

With the conversation in place between seller and buyer, buyer also did not state any TnC toward seller if deal fails but agreed with seller that deposit is refundable (seller offered refundable deposit process upon deal failure).

xxxxxxxxxxxxxxxxxxxxxxx

From what I read from internet and shared experience, the word used within the deal is also important.
Deposit and down payment are different meaning. While "deposit" was used within the deal.

Deposit - I am interested, I pay deposit to reserve then we further discuss until full deal stage.
Down payment - I am firm buying this hence I am paying partial amount of the selling price and to clear off remaining balance upon receiving goods.

Feel free to correct and share input on these two statements.

xxxxxxxxxxxxxxx

Kind of puzzle me because:
Seller call off deal and refund deposit to buyer, many said buyer can sue seller even deposit is refunded.
Buyer call off deal and receive deposit from seller, can seller sue buyer for being joy buyer?

If the seller cancels the sale after a paid deposit, the outcome will depend on various factors, including the terms and conditions of the sales agreement and the applicable laws. Here are some possible scenarios:

Refund of Deposit: If the seller cancels the sale without a valid reason or breaches the terms of the agreement, the buyer is typically entitled to a full refund of the paid deposit. The seller may be required to return the deposit promptly.

Compensation or Damages: In certain cases, the buyer may seek compensation or damages if the seller's cancellation causes financial loss or damages. This could involve claiming additional costs incurred due to the cancellation or pursuing legal action to recover losses.

Legal Remedies: If the seller's cancellation is deemed wrongful or in violation of the agreement, the buyer may choose to pursue legal remedies. This could involve filing a lawsuit to enforce the contract, seek specific performance, or claim damages resulting from the cancellation.

Negotiated Resolution: In some situations, the buyer and seller may engage in negotiations to find a mutually agreeable resolution. This could involve discussing alternative solutions, such as transferring the deposit to another purchase or reaching a settlement that is satisfactory to both parties.

It's important to consult with a legal professional to understand the rights and options available in your specific situation. The outcome will depend on the specific circumstances, contractual terms, and applicable laws governing the sale.

-Ask GPT next time

I appreciate all your opinion and experience sharing, I am sure this can be good lesson learning for people who plan to sell any asset privately.

Basically there is not much hassle between myself and the buyer, the deal is seal, the deal will continues. Just out of my curiosity that if I pulling out from the deal as a seller, what would it be. I did some research over the internet, it is really an interesting thing to know especially as a first time private seller without any middle man or runner.

Have a good day you beautiful peoples!

private sale, so only between buyer & seller



There is no written agreement between buyer & seller then no need ask too much. Its all verbal only.

private sale, so only between buyer & seller

if u seller want to cancel & return, then buyer take back money. simple.

if buyer bising, dont want money, then u keep money.

I just purchased my 10th car, all my cars are private buy & sell.

There is no written agreement between buyer & seller then no need ask too much. Its all verbal only.

you do know that oral agreements can be legally binding in the eyes of the law i.e. it becomes a contract, right???

TS mentioned he communicated via social media and messaging, so that's written proof.

how do you think a "he say, she say" argument is going to go.. if a large sum of $ is on the line, one should put things on paper instead. Thus this argument is purely academic.

clearly you dont know how the law on contracts work.

lets keep it in topic, please enligten us with how many cars have you purchased with verbal / electronic conversation as "proof"?, and then, and from those purchase(s), how many you brough the other party to litigation ?

please enlighten us with real world example & experience...

That sentence is after mentioning my experience, not TS.

also, ts giving example, not actual.. and also no explicit mention of breach condition