Non-Refundable Deposits (opinions needed)

[Shadera]

I'd return the extra payment beyond the deposit, and give him a credit towards a future purchase with a time limit for the deposit amount.

Congrats on the new job.

[hig]

Would you guys consider adding a term to the contract for the next time saying non-refundable deposit, minimum monthly non-refundable payment and a deadline for payment in full? If full payment is not received, then the animal goes back for sale? I see this as reasonable given many of the points raised in this thread: lost time, lost sale, the cost of feeding and keeping the snake for a few extra months etc.

Of course, its up to you if the buyer had an actual good reason for backing out and you could refund any or all if you so decided. That wouldn't be in the terms of the contract however.

[SnowShredder]

I believe in any situation, be it animals or objects, a non-refundable deposit is just that. It was agreed upon from the beginning and it is the buyers choice to put down that money that they could potentially lose if they back out. I don't think it makes you a bad guy at all. It's just business, it would be the same for anything else with a non-refundable deposit.

[SlitherinSisters]

I don't refund deposits or payments. I will consider a transfer of funds to a different animal, however. I have this all wrote on my site and the buyer receives a copy of the terms as well if they choose to do a payment plan. If the buyer is worried about defaulting they won't do a payment plan and I won't have to deal with the headache.


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[Diamond Serpents]

that 20% cut was stated it was no refundable that's yours to keep. Its setup like this because if the market was to drop and he backed out ect....

He should have been responsible to know that something could have came up in his life preventing him from completing the purchase. You could have found another buyer who would have payed up front. Don't do a trade either if thre is nothing that you like.

[Mike41793]

I would keep the deposit. Non-refundable means non-refundable.

[DavidMundy]

Thanks everyone I think if we can't work out a trade I am going to refund him the $700 and keep the $500 deposit like he agreed upon. To make myself feel a little better about it I will offer him $500 credit to future hatchlings sales.

[Kodieh]

You could also offer him 1200 towards hatchling too.

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[bcr229]

In addition to a percentage of the deposit being nonrefundable, if the buyer is making payments then there should be a set schedule for those as well, e.g. 50% down payment and half of that is nonrefundable, and the remainder plus shipping (if any) is due in 30 days. Otherwise you end up with buyers who send in dribbles of money over many months, and meanwhile you're on the hook to feed, house, and potentially provide vet care for that animal. If the buyer misses a payment then pay back any payments less the nonrefundable portion, and relist the animal for sale.