Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
Hello. My name is***** am a US licensed attorney and I will be happy to answer your question.I am sorry to hear about this unfortunate situation.Please note, I cannot comment on your specific situation, as this services is only limited to general information and for any legal advice / legal service you should contact your local attorney.
Did you execute any type of a written agreement with the buyer?
When was the last time you had contact with the buyer?
Thank you for your follow up.
Do you have buyer's full name and did you attempt to find him?
How did the buyer make his payments?
Did he provide you with any type of mailing address?
Did the buyer pay for any repairs / improvements for the boat?
What is the market value of the boat and how much do you think about selling it for to another buyer?
While I cannot comment on your specific case, generally, if the buyer failed to make payments according to the verbal agreement, then the buyer can be held in breach of the agreement, however, without the written agreement outlining the terms of the purchase transaction, the buyer would be entitled to the return of any money paid for the boat, minus and expenses, such as storage / winterizing, that the seller incurred due to the buyers failure to complete the transaction, so it is important to try to sell the boat at its market price.
I wish you the best of luck!
Generally, it is important to understand that the buyer who defaulted on the boat purchase would be entitled to a return of any money pos for the boat, minus actual damages or cost of any equipment that the buyer had removed from the boat and has possession of.
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