Community Forums

bpu699 · 02-28-2022, 10:07 AM

Quote:

Originally Posted by Donskiman

It seems if a person puts a deposit on something sight unseen, you think they're obligated to buy it or lose the deposit regardless of whether or not an inspection reveals major issues. Got it.

If I'm spending over $100,000 to buy something, that kind of thing isn't going to work. It wasn't done when I bought either my house or my coach.

In my view, someone who won't agree to a deposit based on a contingency of an inspection not finding major issues is trying to cover up something and is not someone I would ever buy from.

Well but that's the choice you made. The other buyer didn't feel that way.

Ive bought tons of properties without financing/inspections. Got it over the other guy, and at a better price. Risk/reward and all.

You have to do what youre comfortable with. Other buyers have a higher risk tolerance.

I bought my RV on the spot, no inspections... Price was right. I suspect 90% of buyers do the same.

Punkinhead · 02-28-2022, 10:18 AM

The purpose of a deposit is for the seller to agree to take the item off the market while the buyer gets their act together. If the buyer backs out then the seller has potentially lost other buyers. The deposit is compensation to the seller for doing that. As a seller I would never take a non-refundable deposit. It serves no purpose. I've taken deposits before but I made it 100% clear that it was non-refundable.

ransil · 02-28-2022, 10:29 AM

I bought one last year, seller was very good, I had to fly in to look at it, was a week out, I told him to sell if he had a buyer before I got there, he had a couple lookers, before I left for the airport I texted him and was cleared to travel.

okcnewbie · 02-28-2022, 10:35 AM

Quote:

Originally Posted by newcoach2021

.....As of three days ago. I have had two different coaches, sold out from under me. After agreeing to purchase. (pending inspection).....

Gary I have a couple of questions so that other buyers might be able to learn something here.

How much of a deposit did you put down and what were the conditions of getting the deposit back? Did you use money order, mail a check, etc?

Do you agree that in todays market you may lose out to someone that is doing their own inspection or none at all?

A verbal or actually handshake still work but in this market no one is too surprised when it doesn't IMO. Was there any type of written agreement at all? Maybe even an email where the buyer agrees to hold the MH until "Friday" or certain date.

By your own admission you're already at the "fool me twice" stage. Get a written agreement of some kind and if you are and it still isn't working I apoligize.

Donskiman · 02-28-2022, 10:50 AM

Quote:

Originally Posted by Punkinhead

The purpose of a deposit is for the seller to agree to take the item off the market while the buyer gets their act together. If the buyer backs out then the seller has potentially lost other buyers. The deposit is compensation to the seller for doing that. As a seller I would never take a non-refundable deposit. It serves no purpose. I've taken deposits before but I made it 100% clear that it was non-refundable.

If you're entirely confident no major issues will be found during an inspection, you'd have no problem with a contingency based deposit. Plus, a small non-refundable deposit of like $500 is far different from a deposit of $5,000 like I made.

Perhaps the seller (a dealer) could have sold our coach at a higher price if they had waited a few months. The same model and year are now listed at up to $40,000 more than we paid, and none have been listed for what we paid.

My advice to the OP remains the same. A sales contract means nothing. Offer a significant deposit based on an inspection that reveals no major issues. If major issues are discovered, then either they would need to be fixed, the sales price reduced, or the deposit refunded.

Punkinhead · 02-28-2022, 10:57 AM

Quote:

Originally Posted by Donskiman

If you're entirely confident no major issues will be found during an inspection, you'd have no problem with a contingency based deposit.

That doesn't change the fact that there's no upside to the seller, so why would they do it? What's in it for the seller?

By the way, a seller that takes a deposit then sells the RV is a dirt bag. I'm not defending that behavior.

Donskiman · 02-28-2022, 11:31 AM

Quote:

Originally Posted by Punkinhead

That doesn't change the fact that there's no upside to the seller, so why would they do it? What's in it for the seller?

The seller would do it because if there are no major issues the sale is locked in and they don't need to be bothered with tire kickers.

ArtJoyce · 02-28-2022, 11:49 AM

Years ago we bought a trailmanor used. The model we wanted if they were used in good condition they were sold in maybe two days. We found one 300+ miles away about 2 hours after they posted it. It was for sale at a dealer. We called, dealed on the price and gave them a deposit to hold it until the weekend for our inspection. People want a serious buyer. I don't know how many times I sold things in the paper or Craigslist and head they were going to buy it. Could I hold it and never saw them.. Money talks.

I now will hold something only for the reasonable time for them to drive to look at it. Call me when you leave to confirm it's available and I will hold it until you get here. The longest I held something was 2-3 days the buyer was driving from Phoenix, AZ to Central OH. They call when they left.

When I went to finalize the deal for the Trailmanor the sales person said she had been getting 3 to 4 calls a day all want it.

hohenwald48 · 02-28-2022, 03:12 PM

When a seller has folks lined up to buy what he's selling it's usually the first person on site with money and a pen who gets the deal.

I sold our farm several years ago, had two buyers show within 30 minutes of each other on the same day. One buyer brought his wife and cash with him and a second buyer had to to go home and check with the wife and arrange financing. Guess who lives on the farm now.

I don't sell anything on a contingency. If you want it come and buy it. If you're just shopping that's fine but I'm not missing a sale for your convenience.

outlawten5 · 02-28-2022, 03:31 PM

Quote:

Originally Posted by twogypsies

I just did a quick check on RV Trader, pvt. party and there's a 2017 that's been listed for 69 days. What are you looking for?

Also, I wonder if the dealer ads are not just come ons to draw you into their web.

When browsing an rvtrader ad click on their page. Most units have sale pending or are not delivered yet.

timjet · 02-28-2022, 09:02 PM

I'm not in the market to buy or sell but if I were selling I would not accept a refundable deposit. I understand it takes time to arrange money and for that reason I would only accept a 2% non-refundable deposit with the remainder due in 2 weeks.

Keith55 · 02-28-2022, 09:55 PM

Cash talks - BS walks.

The seller wants to move on with their life. Every person they show it to is LITERALLY hours of their time.

People back out all the time and then you have to deal with arguing about the deposit. Forget that. I would take a cash deal anyway of the week. Keep the deposit.

If you are serious bring an inspector with you. It's supply and demand. Right now there is enough demand that people are willing to buy with cash up front. If the market changes you may be able to take 2 months buying a Rig.

newcoach2021 · 03-01-2022, 05:13 AM

Quote:

Originally Posted by Donskiman

Are you saying an out-of-state buyer should put a deposit on a coach they can't see and place complete trust the seller is not misrepresenting the condition of it? Then if the buyer finds the seller was not truthful, they don't get the deposit back?

It was agreed that ...............................................

There was no deposit as it was agreed the inspection was to be done (it was scheduled and paid for) and I agreed to purchase on an agreed price, IN CASH inspection passed.

The day before the inspection was to be done the seller called me stating he was entertaining an offer from another party (after we agreed I was going to purchase post inspection,) I was told the other party offered and increase to price SO I INCREASED MY OFFER TO BE GREATER THAN THE NEW BIDDER.
And to add insult to injury I had to pay a cancellation fee (200.00) because of this bs to the inspector.

In short screw me.
Any body know someone with INTEGRITY that is selling a Newmar Kingair, Essex, Mountainair, Dutch Star 2008 or newer?????

Respectfully

Winemaker2 · 03-01-2022, 05:30 AM

Quote:

Originally Posted by Bigceasar

Personally, I wouldn’t accept a refundable deposit. It means absolutely nothing.

Quote:

Originally Posted by Donskiman

Are you saying an out-of-state buyer should put a deposit on a coach they can't see and place complete trust the seller is not misrepresenting the condition of it? Then if the buyer finds the seller was not truthful, they don't get the deposit back?

The "seller" not representing the MH correctly might be the least of your problems in today's environment!
Haven't you heard about the ads for something... anything... even houses that the " seller" doesn't even own?
The story goes... I have buyers lining up if you want it I need a non- refundable deposit to hold it. When you get wherever to inspect there is no seller and find the photos were not real... at least not of something the seller actually owned.

I'll stick to a signed pur have offer and refundable deposit pending inspection and may miss out on some deals that need to be rushed.