The Private Party Sale Thread

Off-Ramp
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It’s commonly recommended when considering a trade offer to see what you could otherwise get for a car by selling to one of several car buyers such as these, and of course this is also viable if you’re simply selling a car and not replacing it.

But a private party sale generally yields more.

On a sale I completed last week, I got $3,750 more than the median offer from common car buying services, and $1,250 more than the highest bidder (which was an outlier).

Private sales come with their hassles and risks, but on my most recent sale to an out of state buyer, we used KeySavvy as a third-party facilitator, which eliminated risks and introduced significant conveniences for both the buyer and me.

This thread is for discussion and questions about private party sales.

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Recommendations needed: places to list used car for sale
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My buyer on the transaction referenced above was from out of state, and before mutually deciding to use a third party facilitator like KeySavvy, he offered to make a non-refundable deposit to keep the car off the market until he could book travel and pick up the car.

While I drafted this he rethought the approach and proposed using an escrow-like service instead.

Regardless, since I put the energy into the agreement, here it is in case it’s useful to anyone.

NON-REFUNDABLE DEPOSIT AGREEMENT

Seller
First Last
Address
City State ZIP

Buyer
First Last
Address
City State ZIP

Vehicle
Year Make Model
VIN

Deposit
$1,000

Remaining Balance
$35,750

Buyer agrees to purchase Seller’s Vehicle for $36,750 (thirty-six thousand seven hundred fifty dollars).

For the convenience of Buyer, Seller agrees to accept a non-refundable Deposit in the amount of $1,000 (one thousand dollars), and Seller agrees not to sell the Vehicle to a party other than Buyer for a limited amount of time (the “Hold Period”).

The Hold Period shall begin upon Seller’s receipt of the Deposit from Buyer via Zelle, but no later than 3:00 pm Eastern Time on Tuesday, July 15, 2025. In the event that Seller has not received the Deposit by this time in the manner specified, this agreement will terminate with no further obligation by either Seller or Buyer to the other party.

Buyer agrees to pay $35,750 (thirty-five thousand seven hundred fifty dollars), the “Remaining Balance,” no later than 3:00 pm Eastern Time on Friday, July 18, 2025, which is the end of the Hold Period. Seller will accept Remaining Balance by wired funds to Seller’s designated bank account, or US currency in person at a mutually agreed upon location in Columbus, Ohio.

In the event that Seller has not received the Remaining Balance from Buyer in the manner specified before the end of the Hold Period, Buyer shall forfeit the Deposit in its entirety, with no further obligation by either the Seller or Buyer to the other party.

During the Hold Period, Seller may continue to market the Vehicle and accept backup offers, however Seller shall not sell or otherwise transfer the Vehicle to any party other than Buyer.

In the event that Seller encounters a catastrophic loss such as theft of the Vehicle, or if the Vehicle’s condition or operability is otherwise materially impacted, Seller will promptly notify Buyer, Seller will refund Buyer’s Deposit electronically via Zelle within 2 (two) business days of the event, and neither Seller nor Buyer will have any further obligation to the other party. There are no other scenarios under which the Deposit is refundable.

(Seller signature and date)

(Buyer signature and date)

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Did not see the choice of law and/or venue clause as to jurisdiction for the always-increasing chance of the small claims or standard court lawsuit, or restraining order needed against the disgruntled private party buyer.

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