Help do any of you know anything about banking and timewasters?

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paddywak

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Ok guys would be really greatful for any help..

Basically i am sellin one of my ponies.. Had a lady come and try her on sat pm who said she loved her and lft a deposit on the spot for 10% gave her a reciept

10% deposit recieved for the sale of 14.2hh black mare 8yrs known as breeze returnable only on failure of vetting. signed and dated

So i called people who were meant to be viewing the pony on sunday and cancelled them and some others who wanted to come bakc for a 2nd time on the sun pm, and she said she would have her vetted on the monday. 8 am this morn i get a call sayign she doenst want her anymore as she feels she made to fast a decision and that she wants her deposit back i said well i am not sure my mum will have that i will call her and get back to you ... stalling her so i could go and cash the cheeque by special presentation on the instructions of a lady at yard knowing full well she will try and cancel it..
she then called me this evening and i still have not spokent o my mum and she said well i have cancelled the cheque...i said well i will speak to my mum although you signed acontract and obviously if she decides she wants to kepe the deposit you will ave to sort out payment and i will contact you tomoz..
I then go away to look in my acccoutn assuming no change in balance as she said she has cancelled cheque but my account has a dep of £520 in it but obviously the avliable balance has not gone up although the overdraft has gone down ? does this mean i got in there first with special presentation and cheque has cleared into my accont although it doesnt clear for speiding for next couple of days or can she still cancell it and it go back out? Help? x

God its so stressful upsetting enough having to sell the pony let alone having to deal with timewasters any help or suggestions would be much appreciated x
 
Sorry can't answer your question around the banking but I have always paid a cash deposit and when I sold my pony insisted on a cash deposit for him. I have either popped to a cash point or similar inorder to forfill this to ensure the seller knew I was serious. I know the risk is that if the pony fails the vet they may not pay you back but we have always got our vet in within 24hrs so haven't actually had to pay deposit until vetting and then bankers draft on completion.

Good luck - hopefully the others are still interested.
 
It does not necessarily mean the money has cleared into your account, only that the value of the cheque has been acknowledged. It is still possible for the cheque to 'bounce' I'm afraid.

I do so hate people that are like this, they really seem to get a kick out of messing others about, I guess they must lead such boring insignificant lives, it gives them some sort of twisted buzz.

I do hope you get to keep her money, maybe she will think twice next time.
 
special clearance means that it is sent 1st class and then the money should be clear 24hrs later depending on post. if she has cancelled it today im afraid that means that as it will not get to her bank till tomorrow and then the banks normally ring each other you will not get the money. it is only when her cheque arrives at her bank will it be returned as refer to drawer. at the moment your bank are unaware it is going to bounce that is why it is still in your account. keep the cheque as it will be returned to you. did she put her bank details on the back??
 
Er, I'm probably going against the grain here but that money isn't actually yours and you are not out of pocket so I would chalk it up to experience and just be sure to take a cash deposit next time.

Yes this woman has wasted your time. Yes it is sooo frustrating it is untrue but £250 is quite a lot of money to pay for the pleasure.

Sometimes people do change their minds. Makes me mad but that's people for you! Clearly she wasn't right for ponio so draw a line under it.

Hope you find him a nice home!
 
Unfortunatly it doesnt mean the cheque has cleared im afraid.

It can take up to five days for a cheque to bounce.
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What a complete timewaster though. I hope you sell him/her eventually.
 
I am a bit confused by two replies.Why would she put bank details on back of cheque when they are printed on the front.
Also are you saying its okay to keep deposit if its in cash but not as a cheque. When I worked in bank if you paid for a bank to have the cheque special presented the bank phoned up then and checked if money was in account and if the cheque had been stopped. maybe my memory is not too good though.
 
Maybe she meant cheque guarantee card details so you could demand that the cheque was honoured....

I worked in a bank until v recently.

The phone call will only be made on a special presentation when it is recieved in the post by the bank on which it has been drawn (ie this woman's bank).
So she would have had time to place a stop on it before that is done. If that is the case the response will be 'Payment countermanded' ie stopped. It will not be refer to drawer unless the cheque has not been stopped and she has insufficient funds to pay it. If a cheque is stopped and there are insufficient funds it would normally be returned as stopped as that overrides the funding question.

There used to be a system where your bank could ring up and do an 'if in your hands and in order' query (ie it was signed and dated etc) with the bank branch on which its drawn by phone. It wouldnt be binding! but the other bank would have to say what they would do if they had it. I thinhk that system may have died.

TBH the deposit thing is a bore and I would put it to experience. In future you could ask for cash which you could give a receipt for, or even a bank draft (tho that will cost the buyer about £10-15 to get)

hope this helps!
 
I think you've got no chance with that deposit cheque, just put it down to experience and insist on cash in future (and also CASH for full payment of the when you sell the pony).

Can you phone up the other people you had to cancel and explain the situation to them, see if you can't get them to come back and look again?
 
i had exactly the same happen to me last week it shows in your account then goes again, moral of the story for both os us is cash only i think!
 
God I'd be bloody furious. She has basically lost you two potential viewers & potentially you have to pay to readvertise the pony. I'm confused about responses which say you should be philosophical about this. What is a deposit for if not a guarantee that someone is not going to change their mind.
Investigate what implication there is because this person wrote a cheque. A cheque is an acknowledgement that the money was due. This cheque has clearly been cancelled, but if you can get any money out of her then I would go for it!
 
The deposit money is yours cash or cheque, or whats the bloody point of a deposit in the first place, get cash next time, I bloody detest people wasting peoples time and money like this, if the cheque bounces put it down to experience as it wont be worth the hassle.
 
I thought a deposit was to show intention to purchase and that it was non refundable, Im sure if you wanted to persue this legally you could as you had an agreement.
After all you now have to readvertise etc etc.......god I hate timewasters, people without moral fibre or conscience.
 
Yes the idea of a deposit, is that it is non refundable and there by entering into a BINDING agreement!
As annoying as it is I would chalk this one up to experience and take cash only in future and make sure the buyer is aware that they will not not get their money back unless the pony fails the vet!
 
I had this problem when I had to sell my dads car. He had just died.First person to see it paid a deposit and I was taking phone call saying it was sold. He then came back and said his wife did not like the colour.He wanted his deposit back. My mum said give it to him and I said no. Well he ended up throwing our dustbin at me. he got his deposist back and I kept the car for myself.
 
Whilst looking for a horse two years ago I agreed (as the buyer) to buy the horse and left a £200 deposit (the horse was £4000). I actually changed my mind about two days later for whatever reason and gladly let the seller have the deposit due to re-advertising costs etc. A deposit is just that, what is the point of leaving one if you have to give it back if the buyer changes their mind. This Lady should give the deposit back to you or at least the cost of re-advertising. Bad bad person.
 
Would you want your horse to go to this lady if she changes her mind so rapidly? Yes the deposit is yours but personally I'd let the deposit go & ensure the horse went to a decent home. Can you phone the people you cancelled to see if they're still interested?
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if they put there card details on the back i believe the bank have to honour it up to the amount of the cheque guarantee card. when i sold my horse box i took a £500 cash deposit but also had a list of people who had phoned and i explained that if anything went wrong i would ring them back.
 
A deposit is not necessarily non refundable, unless it is clearly stated as non-refundable.
I think you may have lost the deposit, but you still have the pony, so ring back the other interested parties and explain. Good luck, selling is a nightmare.
 
perhaps we should be able to start a list of timewasters. i am sure there are people out there that are just joy riders. name & shame i say
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If a deposit is refundable as some people are saying Buyers would go looking at horses leaving several deposits and then deciding which horse to buy when they have seen them all. I hope she did not stop the cheque in time and yhe money stays in your account. People have no morals nowadays.
 
Just remember with cheques that there's a difference between the funds being made available and it actually clearing. Normally, funds are available in 3 working days however, it can take up to 2 weeks for one to bounce. I have seen this happen.
 
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