We have LOI's in the real estate industry. They are practically meaningless. Only a FULLY EXECUTED agreement is binding and will usually hold up in court.
Your level of common sense appears to be equal to your understanding of basic contract law. People have given you excellent advice and you continue to make a mountain out of a molehill. You think the list of people involved in your failed transaction will be forever involved with this particular car? Do you understand that every transaction is different? What if the current owner decides to sell the car him/herself? What if its cosigned to a dealership or placed in an auction? You're attempting to soiled this cars vin and potentially harm the current owner because your deal fell through. As others have said, grow the hell up....
Carbon, you sound like a good man, certainly well meaning. I think in this case however you are making more of this than is prudent. I recognise your desire to inform others as to what you perceive as a cast of villains, but I think ultimately it's just one of thousands of car deals that go bad. Let it go. Too many other things in life to really worry about. All the best.
Agreed, another car deal gone bad but hey, that's a big part of the business It seems as though the buyer was acting in good faith despite the numerous red flags and went ahead none the less. LOI's are usually about as valuable as the paper their printed on. These are usually just a document drawn up to indicate to the owner that a party is interested enough in a car that they put their interest in writing and the dance then begins. What might be suggested in this case is that there may be some legal tangles on the seller's end. As suggested, a messy estate sale, a title issue as it may have to go through a probate process, whatever, is keeping the widow from legally selling the car and they've not been forthcoming. But, as Fred correctly points out, too many hands in the deal usually throw things off the tracks especially when lawyers are involved as all they're going to do is drag the process on and on. Always good to know how many hands are in the deal before moving forward and to know who gets paid by the seller and who gets paid by the buyer. BHW
Exactly....you are not out one thin dime, and frankly the OP embarassed himself by airing all this in a public forum. If anyone gets sued, it will be the OP for violating the NDA.
You state that it is your job is to advise others regarding the "legal ambiguity" of this car. If you do not understand the basic concepts of an "offer" and "consideration," you are in no position to advise anyone about six figure transactions. To say it another way, you are not qualified to offer the opinions contained in this thread. You can come up with whatever pretense that you can imagine, but it is obvious that you are unhappy about a deal going south and that you intend to trash the reputations of those involved. That's fine and I get that. However, posting the VIN is just petty. The car had nothing to do with this, and subsequent owners should not bear the burden of your foolishness. Source: I'm an attorney
Some strong language there, I wonder why. I think I found the answer. And isn't this blackmail? Who told you that? Again strong language and the possible motive for it. This whole thread doesn't put you in a good light, Carbon. Maybe you should ask Rob to remove it, but then again, even Oceansky couldn't get Rob to do such a thing. And he's the most succesful broker in the universe.
I was close to buying an Orange GT3RS last week, and then the seller gave me some story why he decided not to sell it / keep it / etc. I was a tad annoyed but I understand I cant force someone to sell me the car, regardless of how much I want to offer and pay. Move on and try to find another car.
Let's be honest, You don't give a rats ass about raising awareness about the car or seller etc...u claim to be an "informationist" and not a dealer, yet it seems what you're really pissed about most is... NOT getting paid $$$$... Sounds like a dealer type mentality to me...I understand u wanna cry and vent to the world but this is probably not the best thing for ya with the NDA... This is just a deal gone sour nothing more!! Get over it and move on .. Sorry to hear about your bad experience/ Good luck bro.. Keep your head up things will get better
A car deal that didn't close....... waaaaaaaa If I had a dollar for every car deal I knew about that fell apart, I could have a 4 cam. Trashing someone on the web because a deal didn't come together fully reinforces what I said about ' anonymous internet stalkers' collecting information on cars/owners and why I would avoid them like the plague.
After giving this a lot of thought, and soliciting the advice of some close personal friends (two of whom posted in this thread), I've asked that the thread be deleted. Clearly it's not beneficial to anyone, and is therefore pointless. I was disappointed about not receiving compensation for my efforts - which happens in a majority of deals gone south, I know; but after learning of the fraudulent nature of the representation, I felt it was more than just a deal on which we couldn't come to terms. One of my intentions was, genuinely, to be helpful; to inform the community of some sketchy owners and brokers. But I was too hot under the collar and probably should have given it more thought starting the thread; I was frustrated, venting personal frustrating, and I clearly overreacted. My frustration and personal feelings are not helpful, nor do they add value to the community. I wish I had spoken to those same friends before I started this thread; cooler heads clearly prevail, and mine was practically on fire last week. I have requested that the moderators remove the VIN from the thread title, and close the thread. If they deem my request acceptable, then we can close this embarrassing chapter of my time here. Last but not least, I'd like to apologize to the FerrariChat community. Again, threads like this add no value, therefore this whole fiasco served no purpose here. I'm sorry.
