I sold a car privately. The buyer agreed to make payments of 300/month. I told them the car would stay in my possession until the agreed upon $2500 was paid in full. After making the first 2 payments totaling 600. They have missed the last 3 payments and are now wanting to back out of the deal and want the 600 back. We did have a hand written contract stating that the car would stay in my possession until paid in full but there are no provisions in the contract concerning cancelation. I told the buyer that I would list the car for sale again and would try to sell it for 2500. If i in fact do sell for 2500 then I would give them the 600 back. They are threatening to take me to small claims. My first question is do I actually owe them the 600 in return? And my second question is can I counter sue for degradation of the value of the vehicle since it has been sitting since May and now has mechanical problems? Also if I have a viable lawsuit against them, what documentation would I need to prove the value of the mechanical problems?
Answer by Jon Welborn
North Carolina lawyer
Posted almost 9 years ago
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