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Lay away purchase

Got an interesting question from a member (on another well known auction site) that I've never seen before. This person has 100% good feedback there and more buying than selling.

"...if i could make payments to you on this, there's just no way I could aford this all at once. if for any reason I had to back out , I would forfit all money paid to date and you keep the machine, I've never let any one down yet and I buy this way a lot. I could pay as much as 250.00 a month"

It would take 7-8 months to be paid up. I don't mind the wait but not sure how to go about it and if there could be any repercussions to me.
markpao
Post removed 
tom6897's avatar
tom6897
1,484 posts
 
I have a good feeling about this guy! I am glad you went ahead with it. I would have also.

Times are what they are. Layaway made a BIG Resurgence this past holiday season.

+1 with Elizabeth, make a clear, concise and well worded contract that spells out both parties duties to perform. Payment by check, money order or transfer. Grace period and forfeture clause.

No Worries!
chayro
3,001 posts
 
As your attorney, I recommend you start drinking heavily. If you want to become a finance company that's your business. I truly hope this turns out well for you. I do.
markpao OP
522 posts
 
Charo, lol thanks for the free legal advice. I'll
keep you posted.
winoguy17
1,143 posts
 
Sounds good to me. You still posess the goods, and he is giving you money. He has a much better chance of being screwed on this deal than you do. Plus, you are helping out a fellow 'phile.
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