Hand Shakes on deals are gone?

[Mr.Glock]

Waiting on another back surgery so thought it a good time to sell a Motorhome we tried out. We are going back to a 5th wheel.

Has been quite an eye opener. Have showed it to about 11 different people. So far 5 of the 11 said they wanted it and asked to buy it. All 5 asked about a down payment/earnest money. I told all 5 that is not needed, just a hand shake will do and would see them the next day. We shook and you know it, they reneged/backed out.

One of the 5 was a Father, Son and Daughter “both children being full age adults” that was going to split it 3 ways! I heard that while they were looking it over, they told me. So come time to make an offer and state they wanted it, I asked to just shake all 3 hands on the deal since all 3 were the buyers and were involved in the purchase. Well….. later that day the Dad called and tried changing the deal, I said that was not part of the hand shake, he agreed, apologized and said they will see me in the morning to pick up the RV. And not a surprise they ghosted out too!

Seems we really have lost integrity and honor on our handshakes! I won’t stop refusing earnest money down, I won’t stop asking and dealing on a handshake on selling. I have gave earnest money when purchasing and will continue if asked.

I have had a handshake deal get sideways before a few times in my life, they did not honor. Maybe a handful in my life and damn, then BAM 5 in a row!

But I refuse to stop handshakes. I will never take earnest/hold money.

So a question to the masses here. Have any you taken earnest/hold money and they ghosted you? They come asking for the money back? I am curious as I stated that I have never nor will.

 

[BobbyV]

If I had something that was fairly valuable like a vehicle, motorhome, etc. I'd probably need earnest money to hold it for very long.

 

[cowadle]

i have done many handshake deals and a few i will take it deals on this forum and elsewhere. i have given my word and before i could meet or complete the transaction discovered that the deal wasn't as good as i thought. i completed the deal with no complaints and paid up. my word is valuable to me.. i have had a couple of deals on this forum take my word and commitment only to use it to backstop a deal and sell to another. most though have been just fine.

 

[jackary]

Always ask for earnest money on big ticket items as the seller, I have had countless people ghost me on smaller stuff on Facebook market place I just assume most people don’t have integrity anymore that way when someone actually does have some I’m pleasantly surprised.

 

[KroyWen]

A handshake, one’s “word” , that’s my honor & reputation on the line. I’m also a Christian. That’s where my ethics and morals are founded upon. Not everyone is honorable though. Two generations of Americans have been taught in the government school industry that ethics are situational.
I could go either way depending on what is being sold , and my discernment on who I am dealing with.
As a businessman, dealing with the public, and money transactions daily, ya gotta have rules so everyone knows what to expect upfront. I do make payment rule exceptions based upon relationships developed over time.

 

[Mr.Glock]

i have done many handshake deals and a few i will take it deals on this forum and elsewhere. i have given my word and before i could meet or complete the transaction discovered that the deal wasn't as good as i thought. i completed the deal with no complaints and paid up. my word is valuable to me.. i have had a couple of deals on this forum take my word and commitment only to use it to backstop a deal and sell to another. most though have been just fine.

One single incident trading on here! Great group for the most part! Have enjoyed meeting everyone I have met from here on trades and have become great friends to many here. But out there in the General Public, peeps not averaging very high on honor!

 

[swampratt]

My understanding is a handshake is just as enforceable as a written agreement.

I sold 80 acres with a 2000+sf house on a handshake and no money exchanged hands at handshake time.

I got home 90 minutes later and wife told me she changed her mind about the 80 acres and house and said she liked it and wanted to keep it.

I told her I sold it.
She said did you get the money and I said no but I shook on it so the deal is done.
She said just call him and say I changed my mind.
I said no I shook on it and agreed and a mans word is all he has.

But in the eyes of the law we are married and she did not shake on it so she could have fought that one.
But she did not and she does not think that deep.

 

[Letfreedomring]

The moral decline of the masses is an everyday occurrence in the workplace which can probably only be seen by retirees in retail establishments and restaurants. I'm not sure if it's from nature or nurture (or socialist media), but it's not looking good for the future generations. I've been VERY lucky in my transactions on OSA except for one in which item was not as described, but went through with deal anyway since I could still put it to use.

 

[OK Corgi Rancher]

In God we trust. All others pay cash...

I like to think a man's word and a handshake are all that's needed. But then the sensible part of me slaps me upside the head for being so idealistic.

 

[Mr.Glock]

Always ask for earnest money on big ticket items as the seller, I have had countless people ghost me on smaller stuff on Facebook market place I just assume most people don’t have integrity anymore that way when someone actually does have some I’m pleasantly surprised.

I have never asked. I see the value being with the seller. I just never wanted to sell something if they changed their mind or kept it when they change their minds.