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Having something sold from underneath you?

J

JOCCO

Well-known Member
How many has had this situation happen? Someone tells you they will sell you a piece of land, tractor or other item but in the end they just sell it to some one else. Not giving you a chance to execute said deal. May be they agree to lease a piece of land to you but next thing you know someone else is farming it. The final insult is when you find out they sold it for less than you were going to pay!!! Yes I have been in this situation before. Couple of times was on an old tractor they weren't quite ready to sell left my number next thing you know sold it to someone else (for less than I would paid) So would like to hear you stories.
 
Drove two hours to buy a shaver post driver called him told him I just left home called him again when I was halfway there I called a third time when I was five minutes away and told me he just sold it. I then called him a few names that aren't in the dictionary.
 
Had a deal on some used machines for our shop with a guy who was going out of business. He agreed to sell 4 machines to us @ $50,000. A few weeks later when we were making arrangements to transport them he calls out of the blue and says he can't go through with it because of a complication with someone else. I backed away and pulled the trigger on another equipment purchase. 3 weeks later he calls back and wants to do the deal but I walked away from him.

The guy who ended up buying the machines gave him $55,000 for all 4 of them. He only wanted 2 of them and he sold me the other 2 for $13,500 so in the end I came out way better.

Even though you look someone in the eye and shake their hand you never really know what they will do.
 
A couple of times. I had a deal all made on an 80 one time. Went to the bank and got the mortgage approved,called the woman and told her we had a closing date. She said she'd changed her mind,her grand son wanted 40 acres of it and she'd talked to a realtor and he told her he could get her more for the other 40. I finally agreed to give her what the realtor told her he could get for the other 40 and let the grand son have the other 40,but I wanted first chance at the other 80 she had next to it. She sold that out from under me without ever saying a word about it.

Then just the last few months I had one that wasn't exactly sold out from under me,but I'm pretty sure it was a shady deal to sell it to somebody else by overpricing it to me. I'd been working it for close to 40 years. Everybody knew it was marginal ground and that drainage was a big problem. The widow's son told me his mother wanted $2500-3500 an acre for it. I told him that we all knew it wasn't worth that and I wasn't interested at that price. She ended up selling it to the brother of the guy she's living with for less than $1400 an acre. At that price,I might have been interested.
 
Hey RR: with friends like the lady in #1 who needs enemies!! #2 is just what I am talking about!!!
 
Guy jacked up the price on me on a walk behind mower one time. He got some calls while I was on my way I am pretty sure. Craigslist ad said $550, but when I got there he said it must have been a mistake his wife made and it should have been $650. I knew he was full of you know what, but it was still an okay price at $650 so I didn't make a big deal of it. I once actually sold a car for far less than i wanted when the gal showed up to buy it. A young mother was in desperate need of a car and I had a beater I was parting with. It was surely worth what I was asking or more, but I couldn't take the price I was asking for it from her. I took the hit and slept well that night.

I'm not pontificating for sure as I don't always follow the rules all the time, but one thing I pride myself and hammer to my own kids and my students is doing what you say. If I say I'm gonna be there...I'll be there. If I say you have first dibs...you got first dibs. I think most people especially farmers are like that in my experience.
 
Ya,that first one destroyed a life long friendship. I guess she was just showing her true colors. She was the one who's daughter and the daughter's entire family got up and walked out in the middle of her funeral because of some of the sunshine that a person who didn't really know her very well was blowing up everybody's skirt in a eulogy. Seems her husband was an OK guy,but after he passed,she showed the world who she really was.

As for the second one,that farm had been in her family for 140 years. She'll have to answer to her brothers,one of whom lived on the corner of the place,and both hunted it all their lives. I doubt if Thanksgiving will go real smooth around there this year.
 
Well on smaller purchases like on Craig's list, etc ...... I think it is difficult for any of us to expect a complete stranger two hours away to hold something for you. But he should tell you that the first guy that shows up with cash gets it. Maybe that's not fair, I don't know. Sure it seems unfair but how many times have you had a guy promise that he would be at your place to buy something or even to just look at it and then he doesn't show up? Just part of how things are I guess. The real estate deals are different though I think. Good post topic and it will be interesting to see what the YT crowd has to say.
 
I told my kids at a real early age,"Your name is worth more than anything you can ever steal.".
 
Depending on what I'm looking at buying will change how I approach the deal. Big difference in looking at something for $400 local on craigslist versus something bigger and further away.

I learned the hard way about not getting contract and deposit made with the sale being contingent on a successful inspection. Wasted a bunch of time and money on plane tickets and hotel reservations to Milwaukee on a verbal "hold it until I get there" type agreement. Got to Milwaukee and called the dealer for directions to their warehouse only to be told, "Oh, sorry we sold that machine yesterday".
 
Coworker had a nice Dodge/Cummins dually. Told him if he ever decided to sell it or trade it in, I'd like a chance to buy it from him. Came in to work one day and saw the brand new half ton he had just got. Traded in the dually for about half it's worth. smdh
 
Sometimes a person my just not want to sell to YOU. Maybe because you are a friend and he doesn't wish to risk a friendship selling you something that he knows has a problem or that it might develop a future problem and he would think that you knew it and sold him junk. Or maybe he thinks you have too much land already & the money to buy more and its simply jealous, envious, who knows what make some people tick?
Life is what it is...........sheet happens!
 
That's just as agrivating as someone agreeing to buy and then not paying. I'm going through that eight now. We have now reached the point where he doesn't respond any more, so I guess it's time to re-list. He made the commitment knowing I was depending on the money.
 
Many years ago, when I was not long out of school, there was an old family friend, that I used to work for, with a farm for sale. I went with my dad and talked with him and agreed to pay his price. We had phoned the finance agent and got pre-approval using my dad as co-signer and told the owner we were going the next day to get financing. He agreed and we shook hands and departed. We were sitting in the office of the government finance agency when a phone call came in from someone else wanting an appointment to arrange financing for the same farm. We and the government guy were blown away. The old friend said the guy came along with a written offer less tan he was asking but gave him $100.00 deposit. A hard lesson learned.
Dave
 
A year ago, I made an offer on a duplex that my wife and I maybe wanted to live in someday if we saw fit to move back to town. We'd use it as a rental property in the interim.

I was waiting for a pre=approval letter from my bank. When I got the letter, I found the property had sold an hour before for the same price I offered. And I was sitting at my computer when the email clicked in with the pre-approval letter.

But, guess it was my fault for not being the proverbial "early bird".
 
There seems to be a common theme in some of these replies. Just because you told someone you wanted first rights to buy something doesn’t mean you’re going to get it. There may be close friends or family who told the individual years ago they’d like first shot at buying Grandad’s tractor and you may not be aware of it.

Now if you told someone you’d be there in two hours and they sell from under you that’s a little different.
 
I bought a tractor from a guy- agreed to his advertised price. All the while loading it on the trailer he"s talking about how someone else wanted to buy the tractor for his dad, claimed the guy would pay $100 more. When I gave him the check he wanted that $100 more! I told him unload the tractor, I don"t deal (get suckered) that way. Then he decided my check was enough.
 
If a person is 2 hours away and they say they are headed out and be there in 2 hours,I'll hold it for 3 hours but after that unless I've heard something its first come first serve.
 
I understand the frustration that goes with this sort of thing, but there are always two sides to the story.

Would you hold an item for somebody that you do not know coming from hours away if there was a certain sale standing in front of you? I would have to think long and hard about that one. The guy coming from far deserves some consideration, but then there is the one that is standing in front of you ready to complete the deal. As a seller, it is a really difficult decision. The guy coming from far might not want the item when he arrives and looks at it. The buyer in front of you might not be willing to wait for the guy from far to have first option on it. Any decision that you make is going to get somebody's nose out of joint.

I once saw a sign that explains it somewhat:

I give credit, you no pay, I get mad.

I no give credit, you get mad.

Better you get mad than I get mad.
 
Does this count..........

My mom and dad had a 10+ year old can. Told dad when ever you sell it let me know as one of my kids; his grandchild needed a car. They got to where they could not drive and my sister who had power of attorney sold the car to one of her friends.
 
I only get ticked off if we made a deal. I shake on a deal, I honor it. I expect the same from you. I do not care if it is legally binding. My handshake is morally binding. That's it.

Many years ago I made a deal to buy a buckling ND goat from a breeder. It would become a wether (amuses me that spell check thinks that is wrong) and a pet for my kids. The woman called me up before delivery. Someone had offered to buy it as a breeding buck for three times the price and she was backing out. I beg to differ, sez I. We had a deal and I held her to it. To her credit, after a lot of whining, she did agree to honor the deal. At that point I told her I would release her from the deal so she could make the extra money. I bought a different goat elsewhere, the new buyer backed out of the deal, she did not sell the little guy and never spoke to me again. Not the time of day would she give me. LOL :)
 
For me I would give the guy from away so long, like till noon, and tell the local guy to come over in afternoon.
 
I have always said what your getting at (CL deal Or small implement) better way to handle it. Yes real estate is a different matter Get contract leave deposit and so on.
 
A few years ago I came across Kubota tractor with some attachments for sale like the one I had.
A widow lady had it for sale for $15,000 which was a VERY good price.
My brother wanted one like mine so I called him and let him know about the one for sale.
He said OK, go get it.
So a few hours later, maybe the next day I went back to consummate the deal.
The lady said she had sold it. I asked if she got what she wanted.
She said no, she got $13,500. I reminded her I had agreed to pay the $15,000.
So, she call the other buyer told him about my offer, if he wanted it, it was $15,000.
He whined, cried and sniveled, but he came up with the money.
It was still a steal at the $15,000. For one thing, I didn't want to see her get taken any worse.
 
It doesn't sound like the other guy paid. If she told me it was sold that would have been the end of that.
 
If I didn't know better I would think you were talking about my former sister, she pulled the lets get dad to sign away more than half his property to me while he is literally dying in the hospital...
will never talk to her again. can't pick family, but you can disown them.
 
Unless you have something in writing or money has been exchanged as a deposit, the seller can do what ever he pleases. I've made the mistake of holding items for guys that take three weeks to show up to buy something, never again.

For me, the first person than puts the right amount of cash in my hand is the buyer. When I buy something I don't consider it mine until I put down a deposit and have a receipt.
 
my dad bought and paid for a larger pony mule I went with him and brought the mule home for dad . two weeks later the fella showed up and told dad uh mu wife says I needs to comes and gets two mo hundred dollas for that mule. we thought he was joking no mans I needs two mo hundrd dollas the guy wasn't to happy when I grabbed him and threw him in his truck I said you come back I wont be so nice next time :oops:
 
I agreed to buy a 200 acre farm. The owner gave me his price and after looking at it said yes. The next day when I called to talk about how he wanted the settlement he told me that he had decided to raise the price $250,000. He did get it sold but I never heard the final price. Tom
 
I sell a lot of junk,old cars,parts,tractors and parts,and have seen some weird proposals.I don't really hold things for people,but there are exceptions for that.What I always
do,is hold things for people that are on their way over.I always tell them to call before they leave,that way I am not left hanging.I think it's crooked to tell somebody to come
over,then sell it to somebody else before they got there.There isn't a sale in the world worth enough to make me act like that.It could be hazardous to your health too.Years ago
my friend called me,he had found a Cub Lowboy with a bunch of attachments.I had a Brockway ramp truck,so we called the seller,piled in and drove 30 miles to meet him.When we got
there he told us that somebody else had gotten there sooner and offered more money if he sold to him.My friend just decked him,and left him laying in his driveway.
 
Years ago I gave my dad a car, when he died one of my brothers just took it, I didn't even get the chance to buy it back from the estate.
 
My aunt's first car was an X-code (2 bbl. 390 big block)'67 Mustang fastback. Kinda rare. Ended up with her father-in-law, and parked with a blown engine, and somewhat rusty. Told him I'd like to buy it, if he'd consider selling it. Nope, he and his granddaughters (my cousins) were going to fix it up. Ok, no problem with that... but please let me know if that changes. Year or so later, I hear from my aunt that the city got after him for having an old car sitting around... and it was scrapped.
 
Every body knows my policy for selling hay. You pay for it as you take it-take it as you pay.
Had a neighbor last winter wanted to come look at my hay. Wanted to come Friday. I said I am gone Friday. Ok. Will come Sat. Calls Sat. afternoon. I said hay is gone. He said but you were gone Friday when I wanted to come. I said yes but I sold it Sat. morning. Now he is spredding around neighborhood what a dink I am. Sometimes you just can't win.
 
You could have the flip side, sell something, get paid, then the guy drops dead before he comes to get it. Now what?
 
Many years ago I saw a 1955 Chevy two-door sedan in someone's back yard. I asked and they said it wasn't for sale. I found out less than two weeks later they sold it. I still haven't forgiven them.
 
This was 30+ years ago. Combine advertised for $500, looked at it and gave him a check for it. Had to get someone to haul it for me. Got things aranged, would not let me have it and would not give me my check back. said he destroyed it. Got laywer involved and he paid me the amount of what I was going to pay him for the combine for him to get out of the deal. I did stop payment on the check he said he got rid of. I did get operators manual when I gave him the check. Still have that manual. But his refusual to onwer the deal cost him out of his pocket just what I was going to pay him for his asking price. Remember that at that time the $500 would be like $5,000 now.
 
I've had close calls with machinery dealers here in Canada, The first guy was with a tractor, We went and looked said yes, need a day to sort finance, will give a deposit. No they didn't want one they'd keep it for us. phoned them the next morning at 8.30 and said the finance is sorted when can you deliver the tractor. His answer was thats good you called now a guys sitting here about to sign a check and take it. If I didn't need that exact tractor I'd of told him to sell it !

exactly the same thing happened with the NH round baler we pull with that tractor from another dealership, I will say with that dealership there seemed to be no honor with thieves. The baler was supposed to off been used 2 seasons and sat 10 years when the guy retired. After looking hard and running it a few days that machine had been used 10 years and sat 2, and certainly had more than 2000 bales on unless somebody had been parts swapping with another machine they had in the yard.
 
If I knew the guy was coming I"d wait til he got here, and ask the local for his phone number, telling him that a sale was pending. It"s the honorable way to deal. If I was the buyer and the seller knew I was coming, I"d be more than pizzed to arrive and find out that it was sold.
 
In my case he did have my check and even tho he said he destroyed it could have come along a year later and tried to cash it. The check was for the full amount of his advertised asking price. And the combine would not start to be able to just drive it off, had to be hauled. Neighbor with a trailer to haul his ditching machine was going to haul it.
 
Long story. Two years ago I saw an F550 for sale for $12500 on Craig's list. Called the guy and set up time and went down to look at it. Arrive at his house and discover he is a gypsy rollback operator and he bought truck online from auction in Virginia. He said the frame is two feet short for the bed he wants to put on it. He shows me paperwork and temporary tag information, all receipts have $11000 as price and he just wants to get his money out of it. We test drive and I'm satisfied, he said he will get it inspected the next day and will deliver to my place within 48 hours. We agree on $11500, I give him check for $500 deposit, he writes up receipt with vin, tag number, sale price, deposit amount, check number, date of delivery and location where to deliver, we both sign and I leave. Three days later no truck, I call him, he said he hasn't forgotten me and needs a day or two to get items on inspection report fixed before he delivers it to me. I agree. A week later I call him again and his wife answers phone and tells me he sold it for $11000 cash the same day I was there to a buddy of his. That night he calls and tells me truck was impounded at inspection station and he needs $2500 to make things right. I tell him I want truck within 48 hrs or I'll get a lawyer. Check for deposit has been cashed and cleared. He tells me to screw my self I can't bully him. I tell him, "deliver truck", we have a sales contract. He tells me deal is off, admits he cashed check and will leave cash with his wife for me to come and get it. I go down to get cash and he is gone, house is empty and for rent sign on front lawn, I call number on For Rent sign, the people renting house are owners and say house has been empty for months and that they had to evict a squatter that had been there. I contacted County police and they can't give me info on who or where the squatters went. I try calling cell phone and numbers on his rollback and all are disconnected.
A month later I see truck for sale on Craig's list. I call guy up and it's in a different county and $22500, I go up to see it and it's the same vin, I still have receipt for truck with vin. This guy is a small dealer and I showed him the receipt and he laughed. It seems the truck was being transported to him by this third party hauler. I call cops show them my receipt and they go to dealer and tell him he can't sell truck because of fraud. Several days later the dealer sold the truck at auction in Manheim Pa and police told me I was out of luck.
$500 lesson learned, beware of Craig's List and great deals.
 
In my case it was even a family member, made a deal on a piece of equipment and made a plan to pick up in the spring, no money had changed hands yet. Come spring he tells me he signed all the equipment over to his sons (B.S.) and they don't want to sell anything ...
 
(quoted from post at 15:15:33 03/28/19) I sell a lot of junk,old cars,parts,tractors and parts,and have seen some weird proposals.I don't really hold things for people,but there are exceptions for that.What I always
do,is hold things for people that are on their way over.I always tell them to call before they leave,that way I am not left hanging.I think it's crooked to tell somebody to come
over,then sell it to somebody else before they got there.There isn't a sale in the world worth enough to make me act like that.It could be hazardous to your health too.Years ago
my friend called me,he had found a Cub Lowboy with a bunch of attachments.I had a Brockway ramp truck,so we called the seller,piled in and drove 30 miles to meet him.When we got
there he told us that somebody else had gotten there sooner and offered more money if he sold to him.My friend just decked him,and left him laying in his driveway.
Click to expand...

Your friend is lucky he did not have assault and battery charges against him.
 
I've learned the hard way that the more money involved, the more one needs to "make it legal", and after being hit for thousands on a bum 'handshake' deal that was sold out from underneath me, that starts at about $100 now.

Buying Craigslist stuff has gone both ways, both good sellers who I tell I'm coming and they hold it the 3 hours it took me to get there (and I always show up), and those who have the integrity of a dog in heat. I try to sus out the seller before committing to go look, and ask directly "I will be there at xx:xx, is anyone else coming to look, and is it first call, first dibs, or first come, first dibs?" Nearly nothing listed is within a half hour of travel one way, and some things just aren't worth taking the risk of even going to look at if the odds are against it even being available when I get there.
 
20 years ago I bought my property from a local farmer. Rented the 40 acres across the road an used it for corn from the same guy.
5 years ago he agreed to sell me the 40 acres Had the bank ok and was going to have the closing. The night before he calls and says it's all off, a realtor was going to get him a lot more.
He had to get it subdivided and pay the back ag taxes.
Long story the realtor could not sell all the lots, it cost him lots of money and I ended up with 15 acres for next to nothing.
He lost more than $50,000 by listening to the realtor.
 
(quoted from post at 19:31:19 03/28/19) Dad had a 10+ year old car. Told dad when ever you sell it let me know as one of my kids; his grandchild needed a car. They got to where they could not drive and my sister who had power of attorney sold the car to one of her friends.
Click to expand...

Similar, a friend was settling her mother's estate, her mom had a fairly new near-luxury car. Her brother's wife wanted to buy it, at an under market price. Her mom hated that daughter in-law and our friend claimed her mom would haunt her the rest of her days if she let her have it. She sold it to someone else of course. Never did tell her why she did it, wanted to preserve some peace in the family.
 
Whelp. I have to admit, I've been on both sides of this, on both cars and RE.

My worst missed deal. Saw an ad for a 1937 Cord Beverly. It was only 40 miles away, and I drove straight over and checked it out. Was asking $24,000(driver condition). We squared up at 22,500 and I gave him $500 cash deposit, and he gave me a written receipt for the deposit. It was after banking hours, so I said I would be back at 10am next day with cash and a trailer.

You know, I got there next day at 9:52am, the car is gone, and the guy won't answer the door. All he does is shout through the closed door that the car is sold. But - hey, where's my deposit? The chicken-spit actually stuffed it under the window sill one bill at a time. I had a mind the night before to block the driveway with my truck and have my wife get the money. Oh well.

Next deal. Was a Porsche 928GT for sale a few counties over. The guy is asking $16,000. I learned my lesson. I stopped at the bank, drew out the money, hooked up the trailer and off I went. Guy said he's had a lot of offers, and people wanting to look. I get there, see the car, check the title, offer $15k, and load it up. As I get in the truck, a guy shows up in a rental car, he's just flown down from Denver to buy it haul back. He was -- hot.

RE deal. We were shopping for another rental. Happened to drive by a FSBO. The owner was in the drive, obviously showing the house to a guy and gal. We went and looked at an open house, and on the way back, just for grins we drove by the FSBO again. The buyers were gone, so I called the number on the sign, and asked if we could come look. He said yea, sure come on in.

I did a pretty thorough check of the house, and we talked about a deal, closed it at $154k. I left my wife there, and drove 6 blocks to a RE agent and asked for a blank TX state contract. Went back and sat at the counter and wrote out the deal. We left him a personal check for $1500, and said we would meet at the title office next morning(bring the check). He called that night, and the couple that were there earlier came by and wanted to make an offer. I told him he can take all the backup offers he wants, but unless I don't perform(pay title fees, do inspections, pay for balance) he was obligated to sell to me. If it fell through, then he could sell to them. Sorry, but that's the deal we wrote up.

But wait, there's more! We saw a listing for a drug seizure house in Simi Valley CA and the date of the auction by the county. The way they ran it was sealed bid, with a 10% check in the sealed envelope. I made my offer, put it in the envelope, and was going to put the check in but the clerk wouldn't give me a receipt for the envelope with the check. No way am I handing the county a check without an receipt! So I kept the check in my pocket. They opened the envelopes, and we won! But wait - there's no money! I ran down the aisle, and give it to one of the county commissioners and said "Now, I want a receipt for my deposit". He wrote it out by hand. We had a great time refurbing that house.
 
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