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Transaction gone bad, what should I do ?
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Author:  docnagel [ Wed Mar 12, 2014 3:33 pm ]
Post subject:  Transaction gone bad, what should I do ?

About six weeks ago, a member of this forum entered in to a verbal contract to buy a watch from me. I checked out his feedback, which was good. Price was negotiated and he sent me a deposit cheque for $500.00 for me to hold the watch. I did not cash the cheque because it was on his business account, and I emailed him to let him know I would hold the cheque until he bought the watch, so that he could keep business and personal affairs separated. Well he had reason after reason why we couldn't get together to complete the transaction, and today he let me know he couldn't buy the watch because of possible financial concerns.
I think he is a nice guy and possibly has had some unfortunate luck. Well, I did have someone else interested and of course told him the watch was sold. I will contact the other potential buyer and see if he still wishes the watch. I was a bit angry when the initial buyer notified me that he was pulling out of the deal, and emailed him that I would cash the cheque if the second potential buyer no longer was interested in the watch
My question, should I cash the deposit cheque or not?? Should I write a negative review based on this experience??
What would you do??
Thanks for your time, Mike

Author:  Watch nut [ Wed Mar 12, 2014 3:41 pm ]
Post subject:  Re: Transaction gone bad, what should I do ?

Did you tell him it was a nonrefundable deposit, if so it's yours, if not I would send check back to him, I'm sure you will sell the watch to a good buyer

Author:  Roffensian [ Wed Mar 12, 2014 3:55 pm ]
Post subject:  Re: Transaction gone bad, what should I do ?

Well I don't like the idea of him messing you around with excuses, but if it were me I wouldn't be cashing the cheque. If he is having problems then business or personal it's going to hurt, and you really haven't lost anything except a bit of time because the watch is going to sell.

As for negative feedback, generally feedback is for completed transactions, not incomplete ones.

Author:  mfserge [ Wed Mar 12, 2014 4:53 pm ]
Post subject:  Re: Transaction gone bad, what should I do ?

Give him his check back and relist the watch. Leaving bad feedback is pointless, he changed his mind, so be it.

Author:  docnagel [ Wed Mar 12, 2014 5:51 pm ]
Post subject:  Re: Transaction gone bad, what should I do ?

Cheque going back in am. No feedback.
Thank for your time

Author:  Damnfoolman [ Fri Mar 14, 2014 7:24 am ]
Post subject:  Re: Transaction gone bad, what should I do ?

Nicely said Roff,

That's good advice.

Good for you Doc, you've certainly made the right decision. Hey, store the karma in your mental bank. It'll come around.

Davey.

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