I am the seller of a boat. I sold the boat to the buyer for $4500. The seller gave me a $200 deposit. The seller, myself, and a witness signed a very specific contract agreeing on the sale of the boat. He wanted 2months to pay it off, thus I asked him to sign a contract stating that the boat was now his, he was fully responsible for it, condition of boat and gear, price, payment terms, etc.. A month after signing it he wants to back out. The contract clearly states only the seller can approve this. Since then i have tried to work with him to get this done. I have lowered the price 45% and made other concessions, but he keeps pushing for a better deal. I live in RI, Do I have any legal recourse to get this deal done per the contract? Buyer has already taken possesion of boat, stocked it with his stuff, and altered the sale condition of it. I can't afford to winterize the boat, so keeping it is not an option and it is to late in the season to try to resell.
2006-10-18 06:47:32 · 3 answers · asked by golver1 1 in Cars & Transportation ➔ Buying & Selling
Is $4300 to much for small claims court in RI?
2006-10-18 07:01:36 · update #1
Take the boat back.
Sue the buyer for any and all costs that you have to return it to the original condition, and any additional costs that you have in winterizing and selling the boat.
You still will have a boat that has value, so all you can sue for is you actual losses, and that should be under the small claims court limit!
2006-10-18 07:08:25 · answer #1 · answered by fire4511 7 · 2⤊ 0⤋
A contract is a contract. You have it in writing...signed and witnessed. Under the circumstances you should stick with the deal you agreed to in writing. Buyer sounds like he's just trying to pull one over on you. If not paid in full in the time alloted you can also reposesse the boat and you owe him nothing back. You can also resell the boat and if you don't get the amount agreed to in the contract you can dun him for the difference.
2006-10-18 06:52:50 · answer #2 · answered by Kenneth S 5 · 0⤊ 0⤋
Why would you lower the price if the buyer signed a contract? Take the guy to small claims court and reposses the boat.
2006-10-18 06:57:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋