Can a person walk away from a signed purchase/sale agreement on a private party used car sale?
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Can a person walk away from a signed purchase/sale agreement on a private party used car sale?
I’m advertising a vehicle that I own but has not been titled to me yet (gift from a friend). I had someone interested, was clear about the title not in my name, they looked at the car, loved it, we negotiated a price and signed a purchase and sale agreement eye witnessed by a third party. Everything was fine, the buyer went to his bank to get a loan but the bank didn’t like that my name was not on the title (I do have supporting documentation that I do own the item). Now the buyer says he wants to walk away from the agreement. I told him I am going to get the title in my name.
Asked on March 29, 2012 under General Practice, Massachusetts
Answers:
Hong Shen / Roberts Law Group
Answered 12 years ago | Contributor
First of all, you cannot sell something you do not have a clear title. Second, it is not his fault not to buy the car. The bank would not give him a loan due to the title issue. If getting a laond is a condition precedent in the contract, he is free to walk away from the deal.
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