Originally Posted by meineke
For all you drag racers selling parts or cars on racingjunk i would like to know your input on taking deposits for cars,parts etc. When a person gives you a deposit on something that you are trying to sell what is what is your policy on a deposit refund if that person decides not to buy your car or parts. Does he lose his deposit?
If you state it up front- thats its forfeit- then it should be forfeit.
Your time, cost of ads etc has value.
Typically set the deposit to what you will be out if he walks and make it not refundable and confirm in writing, and everyone lives happily ever after.
Scorp