1992 Limited 34'

[setblaster]

I'm looking at a 1992 Limited 34'. I want to give a 50% deposit to hold it and pay the rest when we pick up in three weeks and get pink slip. How should I word a receipt to protect my deposit? Is there some kind of form I can use?

[DKB_SATX]

So, you want to protect your deposit AND your right to inspect and refuse? Or you've inspected it and you're certain you want to buy it in its present condition at a given price? These are not the same goal.

[setblaster]

I want to buy it for sure. I will give the deposit and then the balance when I pick it up and we go to the DMV and he will sign pink slip and I will register. I want to protect my deposit so in case seller gets a better offer and sells it out from under me I have recourse.

[DKB_SATX]

Ok, let me first state that I am *NOT* a lawyer. This is what I used as the format of my agreement to buy my trailer, that I felt protected both of us adequately once I had decided that this was the trailer I wanted. It was a 10%/90% transaction, and I agreed in discussions with the seller that I would forfeit the earnest money if I didn't close the transaction as agreed, so the written agreement reflects that and you may wish to adjust it if it doesn't fit your situation. It's a good idea to include the trailer's VIN in the description in the agreement. I did this in Texas, where travel trailers are titled real property, I think that's not true in every state.:


Agreement to Sell <detailed description of trailer in question>



<Seller's legal name> of <Seller's address> (Seller) agrees to sell to <Buyer's legal name> of <buyer's address> (Buyer) the <description of trailer> titled to Seller for the sum of US$ <agreed price>. payable in 2 parts.

Part 1: Earnest money payment of $<agreed deposit> on <date> payable in <form of payment>

Part 2: Balance of $<agreed balance> on or before <agreed settlement date>


Seller agrees to convey the <described trailer> itself, its <state> Certificate of Title duly executed for transfer of ownership to Buyer and all of its installed equipment and accessories, the hitch mechanism and such spare or replaced parts as were shown during demonstration of the <described trailer> as well as all owner’s manuals, brochures, service records and other such documentation pertaining to the trailer.



Seller agrees that the <describe trailer> will be in essentially the same or better condition as it was in during demonstrations on <agreement date>. If the trailer is lost or significantly damaged, Seller agrees to return the $<deposit> earnest money payment to Buyer. Seller acknowledges the receipt of the $<deposit> earnest money payment.

Buyer agrees that the $<deposit> earnest money payment constitutes a promise to pay the balance of $<balance> as described above. If Buyer fails to complete the remaining payment, Buyer agrees to forfeit the earnest money in consideration for the termination of this agreement.




_________________________________________ _________________________
<seller's legal name>, Seller Date



_________________________________________ _________________________
<buyer's legal name>, Buyer Date

[setblaster]

Perfect....that's just what I was thinking. The perfect trailer for us just arrived before the tax refund did and I don't want to pass it up. Thanks for the advice.

[pmclemore]

50% deposit is a big gamble on the guy's honesty.

Good luck. Pat

[setblaster]

Finally took the plunge again for the big daddy Airstream!! We towed home our "new to us" 1992 Airstream 34' Limited Classic.... Let the fun begin!! Thanks so much for the advice on the purchase agreement, the seller appreciated it too! It towed beautifully to it's temporary home for fixing up to our liking then it will be on the road to New Mexico and beyond in June!! We're sure to be referring to the forum for all the tips. We'll be traveling with multiple Chesapeake Bay Retrievers and one Moluccan Cockatoo! See you on the road!

[vswingfield]

Glad everything worked out for you. Always good to see another triple axle join the crowd. Now we need photos!

I have a few of mine as it currently is at: Front Seating Area - Interesting PO reupholstered front sofa. Mega herringbone (whalebone?) and Lane recliner ottoman combo. I live alone, so extra weight is for MY comfort. Photo Gallery is the living room and there are others in my gallery.

I've got to get busy on some remodel projects, but I've been lazy lately. Of course then I'll need new pics.