I am currently selling my car, and about 5 days ago I was approached by a man who was very interested. He was so set on buying it he wanted ...

Question

I am currently selling my car, and about 5 days ago I was approached by a man who was very interested. He was so set on buying it he wanted to write a bill of sale right then and there, and he insisted on giving my $500.00 cash. The only contingency was I agreed to have the parking brake fixed. The bill of sale wrote exactly:

I _____ am selling my 2007 BMW X5 to _______ for the price of $17,500 with only one condition that ______ fixes the parking brake.

Then we both printed and signed at the bottom. So from there we shook hands and agreed to meet at the bank the next morning, and I was to call BMW and schedule & pay for an appointment so he could have them fix the parking brake. So later that evening he called and told me that when I talk to BMW to also have them do a full inspection and he would pay for it. Already I was upset because that was not mentioned in the deal whatsoever, but I agreed and did it anyway. Well it turns out BMW has a waiting list to see any vehicles and instead of letting me schedule and pay for the parking brake in advance so we can just finalize the deal now, he wont agree to buy the car until BMW and only BMW inspects it. Well long story short its been a week of going back and forth and he now is saying that since BMW is taking to long he wants to pass on my car and wants his $500 back. What should I do? I don't believe I should give it back because we had a deal that he is no longer honoring.

Answer

You should get the parking brake fixed, asap. Then call up the buyer and say that it is fixed, so hand over the money. If he does not do so, you can probably retain the deposit, except that you say that the only written agreement between you does not mention the $500 at all, so he could claim that it was a refundable deposit that you owe back to him. In any event, you have the money, so he will have to sue you for it.