I've had a potential buyer looking at my plane for 3 weeks as of tomorrow.
He's in Alaska and hasn't seen the plane personally.
He put a $1000 hold deposit on the plane on 9/20. Now it seems he's dragging his feet and i've got other eager potential buyers waiting for an opportunity to have a look at the plane. They'll not wait forever.
I feel like he's probably holding my plane while he shops the market looking for anything he might like better.
How long is reasonable to hold the plane for him while he makes his decision.
Facts:
I've taken the plane in for him to 2 different shops for pre-buys on 9/30 and 10/04. The first pre-buy read so good, i think the buyer didn't believe it was honest. The second inspection read just like the first. Both mechanics used numerous gleaming superlatives and included that the plane was an outstanding 152 and that they had only good things to say about the plane. Only a few minor squaks, none of them airworthiness issues.
All logs were sent to him on 9/27 and 10/3.
On 9/30 he sent me a generic AOPA purchase contract all filled out with price and all other details listed. Only his signature was missing. On 9/30 i signed and returned the contract. That was 9 days ago.
Now he says he's having the documents and contract looked at by his people and he won't have an answer for me till at least the middle of next week, so probably longer??? (The documents were of his own choosing, and he's had 9 days so far with the log books for a 152, not a space shuttle!!!
I've recieved a great deal of interest in the plane and i hate to keep telling people they have to wait till this guy makes up his mind.
I see now that i should have put a deadline on his hold money.
He's spent nearly $600 of his $1000 hold money on pre-buys now
and i don't want to be held liable for that if i send him his balance back and sell to someone else.
Any opinions on what i should do at this point?
I've decided to ask this question publicly because i've got more buyers who are chomping at the bit to come see the plane, and i'm unsure how to proceed. This hold can't go on indefinately.
