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Old 08-14-2009, 04:26 PM   #1
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Seller etiquette.

On several potential deals I have had a problem with the seller not wanting to give me a chance to get the loan or money together on my word alone (a one day deal with constant phone contact).

Even when I say I will call from the bank and let them talk to the loan officer etc.

Not all but several occasions the sellers have said something like, whoever brings the cash first gets the camper.

What is your opinion if a buyer goes to the bank and is getting a loan and calls the seller and says the papers are being signed and the sellers say hurry because if someone comes with cash ahead of you it's sold.

Deposits are good but sometimes you would think a persons word and constant phone and email contact would be good enough.

Am I completly wrong ?

Robbie R.
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Old 08-14-2009, 04:38 PM   #2
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Quote:
Originally Posted by Robbie R. View Post
On several potential deals I have had a problem with the seller not wanting to give me a chance to get the loan or money together on my word alone (a one day deal with constant phone contact).

Even when I say I will call from the bank and let them talk to the loan officer etc.

Not all but several occasions the sellers have said something like, whoever brings the cash first gets the camper.

What is your opinion if a buyer goes to the bank and is getting a loan and calls the seller and says the papers are being signed and the sellers say hurry because if someone comes with cash ahead of you it's sold.

Deposits are good but sometimes you would think a persons word and constant phone and email contact would be good enough.

Am I completly wrong ?

Robbie R.
Best bet, have the cash in hand. Second best have a deposit to hold the purchase. The seller only has to transfer title upon payment, everything else is sellers choice.
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Old 08-14-2009, 04:52 PM   #3
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Just my thoughts...

Your thinking seems reasonable, but money talks, and if I'm the Seller you would have to give me a deposit before I'd ever commit to holding it from sale to others.

That's fair business, and from the Seller's perspective they need reasonable assurance that you're willing to pay-to-play. If you're serious about the deal, cut the Seller a check to hold it for you with the understanding that they will deduct the amount from the final sale price. Also set a time limit. They will hold it for you for X days. If the deal doesn't go because you change you mind, fail to qualify, etc. The money is the Seller's for the delay unless they are generous. It doesn't need to be a huge amount.

Cash doesn't Talk...It Screams!!!!

I know you've been searching. Hang in there, your deal will come along.

Best of luck,

Kevin
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Old 08-14-2009, 04:53 PM   #4
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I think many of us can tell stories where we have lost a sale because of someone saying they were getting the money and then didn't come through. The best bet as Janet's husband has said, is cash or a significant down payment.
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Old 08-14-2009, 05:06 PM   #5
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I sold mine on a handshake and check for deposit and return in a week. One hour later a man showed up with cash to buy. First man got it. Second would have if by following Saturday no word from first. Both made 400-mile roundtrips.
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Old 08-14-2009, 05:11 PM   #6
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I hate you are having such trouble with your search Robbie. But that just means it will be that much sweeter when the fruit finally arrives!

Godspeed,
Trent
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Old 08-14-2009, 05:17 PM   #7
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I do understand the deposit thing.....and agree.

I guess what I am wondering is when will the seller consider your intentions to be "next" in line.

In other words, I have had several jump in front of me even when I was doing paper work.........

I was told by one seller that even if I had the check in my hand and said I was at the post office mailing it that they would sell to a person who had the cash.

This is wrong in my opinion.......but I have run into this on several occasions trying to buy an airstream camper.

In fact, in all my years of buying and selling I can honestly say I
have never had as much trouble buying anything as I have an airstream.....And it has nothing to do with getting the money........just getting the money to the seller faster than the other buyers do.......and just simply getting the sellers to say, ok I'm waiting for you to get here with the money.........

And it's not like I am asking the seller for anything extra except time to get my credit union on the phone and get the check signed......

I recently went to look at one and talked to the seller almost the whole way there just so he would not sell before I got there to give him a deposit.......It ended up I did not like the camper so I declined.

Robbie R.
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Old 08-14-2009, 05:41 PM   #8
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Money talks....all else walks. Buying and selling is a business, business is handled with money. I don't know you...and really am only meeting you under these circumstances, I may never to see you again. No reason to take your word, taking your deposit starts the business end of the "deal".
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Old 08-14-2009, 05:44 PM   #9
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Robbie,

If you have not left the seller a deposit and do not have a binding agreement, then other people are not really jumping ahead of you. Once the seller has a deposit from someone - there is no more next in line. It's over. Sold.

If the seller agrees to hold it for you and is willing to pass up another buyer's cash.. well... that's just lucky on your part and is not overly smart on the seller's part since the cash payer might go elsewhere or change their mind. Best bet is for you to have a receipt that shows the date, deposit paid, the purchase price agreed to, terms and conditions, trailer model and serial number, names of all parties involved and signatures. You have that, and you have something binding.

Terms and conditions might include acceptable inspection report from an RV dealer, seller to provide title, or 5 days to secure financing, etc..

Remember, sellers hate complicated and LOVE cash or a bank certified cheque... I once sold a truck where the prospective buyer wanted 30 days to sell a purebred dog in order to get the money and he wouldn't leave a deposit. I just told him good luck and I agreed to the price offered IF the truck was still available when he got it all together. He called back 6 weeks later wanting more time to raise the money. I informed him the truck sold on day 3.
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Old 08-14-2009, 06:05 PM   #10
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Cash or check deposit FIRST it will be then.........

Airstream here we come !

Robbie R.
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Old 08-14-2009, 06:18 PM   #11
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Quote:
Originally Posted by Robbie R. View Post
Deposits are good but sometimes you would think a persons word and constant phone and email contact would be good enough.

Am I completly wrong ?

Robbie R.
I don't think you're wrong, and wish I had a trailer to sell you: just to rectify your faith. I believe it's mostly a cultural thing. In other words, how a person is raised defines their expectations, and the allowances they are willing to give.

Very simply put, "we southerner's" are a, slow moving, considerate, trustworthy mess.

God's luck finding someone who is your match!

Carol
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Old 08-14-2009, 06:50 PM   #12
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your word

Looking for "your" TT is frustrating especially when they aren't in abundance and amazingly everyone else is looking at what you want for some reason.

I personally would accept someones word and a small deposit (cash or check) with a time limit agreed upon. If it's a long distance transaction, then depending on how it goes on the phone would be a decision of the moment.

We looked for our TT for a while and had several deals go sour over sellers wanting to sell to the first person with "cash" who was right there, not 3 hours away and willing to jump in the truck to get there.

After losing a couple of "deals" we drew cash out of our account and kept it in the safe "just in case." We had to be careful of the "buying with the heart not with the head" and by keeping the money in the safe, it was also a tool to keep us in our price range. We knew what we wanted to spend, but I've been know to go up because I thought something was unique about it. (My husband has the more level head!)

So, we lost a few deals, dealt with a few folks who weren't as forthcoming as their descriptions, and ended up finding a TT less than we were willing to spend and now the $$ is being frugally doled out for restoration.

The right one will come along as it's meant to be. But it isn't easy being patient!

Good Luck!

Tina
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Old 08-14-2009, 07:01 PM   #13
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Thanks everyone for the advice. There is a bunch of great people on here and I should clarify that all the people I have dealt with have been super nice.........just strictly business.

Carol, thanks for the kind words........wish you had a nice 30' Excella 1000 with a kitchen table to sit at and drink my coffee and look out the window.

Robbie R.
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Old 08-14-2009, 09:02 PM   #14
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From the sellers point of view, the owner would like the purchaser to have the financing already completed.

I have heard many who say, "I have to talk to the bank or credit union".
The worse response is, "I have to ask my wife". Make me puke.....
Those folks never came back.

When you think you will never sell the vehicle, magically someone pops in and buys it.

With regards to a cash purchase, I would rather have a cashier's check. I do not want $1,000's in cash. It's not safe and the bank might be suspicious.

We had that happen with our boat in 98, a man brought out 12k in cash.
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