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LegalKnowledge, Attorney
Category: Legal
Satisfied Customers: 27607
Experience:  10+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
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I gave someone $500 to hold a car for me to look at, but

Customer Question

I gave someone $500 to hold a car for me to look at, but never agreed to buy it. Is my $500 refundable from the private party?
JA: What state are you in? It matters because laws vary by location.
Customer: Colorado
JA: Has anything been filed or reported?
Customer: No paper work signed
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 11 months ago.
Category: Legal
Expert:  LegalKnowledge replied 11 months ago.

Good afternoon. Yes, it should be. The $500 was consideration to hold the car and allow you to see it and not sell it to anyone else. If you ended up buying the car, it should have been applied but if you decided to not buy it, they could not just keep it, unless it was agreed upon ahead of time. There is a difference between asking for a deposit, if you wanted to buy it and simply putting up money in good faith, for them to hold it, to show that you are serious but need time to look a it, to see it was as represented.

Expert:  LegalKnowledge replied 10 months ago.

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