Confused...

[Bear]

If I was the owner, I would have returned it. I hate to keep other people's money, even for a second.

And if I was the OP, I wouldn't expect to get it back.

Always be nicer but keep low expectations of others. You will be more content this way.

Right on! In fact, as a seller I would say:

'Keep your deposit, I'll give you the first bite of the apple.. if a higher offer comes along I'll call you and either you'll buy it or I'll sell to the other guy.. but I'll take your lower offer first. Sound reasonable?'

This approach will create urgency and cause the sale to happen faster. Arbitrary 'holds' for time periods only server to freeze the process which can cool off both buyers in the end.

 

[E-Nough Logic]

in my opinion the deposit belongs to him. i dont consider an exempt mileage title as a disclosure item, it is a clear title for an old car. the issue was not with the title itself but rather your inability to finance the car. you took your chances putting a deposit down before securing the financing. unfortunately financing an older NSX isnt quite as simple as other cars, i just financed a 92 GPW/Black a couple months ago it was quite the adventure.

It sucks to lose your deposit, and even more so not get the car you wanted, but it also sucks for him to take his car off the market for the month, not be able to sell it, and continue to pay the expenses of the car if any.

 

[tstruyk]

call pentagon federal CU... they'll lend book value as long as mileage is <100k, I financed my 91 at 2.99% all done by phone/fax/email. you could have this wrapped up by next week.

done

 

[sidwac]

in my opinion the deposit belongs to him. i dont consider an exempt mileage title as a disclosure item, it is a clear title for an old car. the issue was not with the title itself but rather your inability to finance the car. you took your chances putting a deposit down before securing the financing. unfortunately financing an older NSX isnt quite as simple as other cars, i just financed a 92 GPW/Black a couple months ago it was quite the adventure.

It sucks to lose your deposit, and even more so not get the car you wanted, but it also sucks for him to take his car off the market for the month, not be able to sell it, and continue to pay the expenses of the car if any.

I tend to agree with these comments. When I purchased my NSX I did not put down a deposit but offered one up to the seller. I did, however, have a written document that outlined what needed to take place in order to complete the sale (PPI, price, records etc..). Both buyer and seller signed. The following week everything was completed and very happily drove the car home. Had the seller required a deposit, I would have also put it in writing with specifics about under what conditions I could back out. e.g. PPI issues etc. So I'm of the opinion that you should always get it in writing.