• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

PROBATION DISCUSSIONS
21 21

36,201 posts in this topic

1 hour ago, TheFifthHorseman said:

I think it's a lesson for all of us.

I think as someone said in another thread, established guidelines for payments probably need to be discussed before the sale.

p.s. I'm way slow as a seller sometimes but I always keep open the lines of communication with updates, etc.

I'm super flexible in terms of expecting payment & time payments. I just need communication. Something.. tangible. Payments, whatever it is.

Just a simple message can go a long way.

I do wish buyers would be more disciplined about fulfilling time payment obligations, as I think "board credit" is a completely generous option on the part of the seller. If people continue to take advantage of time payment offers, then we will see less and less of them, and that is unfortunate for those of us who approach things honestly.

The key is to get things in writing. When is the down payment due? When is the monthly payment due? Is the deposit non-refundable? When will the book ship? What happens if I default? Questions like this are crucial. Spell things out for one another. Yes, parts of the deal may seem uncomfortable to talk about, but it's no different than discussing your debts and credit with any other loan officer. Follow through with what you say you are going to do.

...and if you have outstanding time payments, I say it's good etiquette to avoid buying more books until you are squared away. If you need credit that badly, bite the bullet and get a card.

 

 

Link to comment
Share on other sites

2 hours ago, skypinkblu said:

Maybe someone has a good suggested template to share?

This is long, but I think it covers all of the bases in a clear manner. Anyone is welcome to edit or offer improvements.

Here is my shot at a template of time payments:

 

Name and description of book:

Total "out the door" price including all fees related to the sale:

Name of seller:

Name of buyer:

Method of payments:

Payment information (PayPal address or mailing address):

Deposit required (Y/N):

Amount of deposit:

Due date of deposit:

Under which circumstance is the deposit or any part of the regular payments refundable?

Number and frequency of payments:

Amount of each payment:

Due date of each payment:

Anticipated shipment date upon completion of payments:

When is a payment considered late and what happens if the payments are not completed on time?

What happens if the buyer is unable or unwilling to complete the transaction?

What happens if the seller is unable or unwilling to complete the transaction?

Return policy:

Seller references:

Buyer references:

Date of agreement:

 

 

 

 

 

 

Edited by newshane
Link to comment
Share on other sites

12 hours ago, newshane said:

This is long, but I think it covers all of the bases in a clear manner. Anyone is welcome to edit or offer improvements.

Here is my shot at a template of time payments:

 

Name and description of book:

Total "out the door" price including all fees related to the sale:

Name of seller:

Name of buyer:

Method of payments:

Payment information (PayPal address or mailing address):

Deposit required (Y/N):

Amount of deposit:

Due date of deposit:

Under which circumstance is the deposit or any part of the regular payments refundable?

Number and frequency of payments:

Amount of each payment:

Due date of each payment:

Anticipated shipment date upon completion of payments:

When is a payment considered late and what happens if the payments are not completed on time?

What happens if the buyer is unable or unwilling to complete the transaction?

What happens if the seller is unable or unwilling to complete the transaction?

Return policy:

Seller references:

Buyer references:

Date of agreement:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

Link to comment
Share on other sites

20 minutes ago, Point Five said:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

It does kind of look scary and can be trimmed down, but almost all of the info is necessary stuff anyway, as well as being required by board rules.

 

Link to comment
Share on other sites

I have not done time payments here as a seller but on a few occasions I have taken advantage of time payments as a buyer.  I have always offered my request for the payments - frequency, amounts, etc. unless the seller has already outlined what they expect in the thread.  The few times I have bought on time payments, I have ended up paying off early.  

Link to comment
Share on other sites

8 hours ago, telerites said:

I have not done time payments here as a seller but on a few occasions I have taken advantage of time payments as a buyer.  I have always offered my request for the payments - frequency, amounts, etc. unless the seller has already outlined what they expect in the thread.  The few times I have bought on time payments, I have ended up paying off early.  

I've done that in the past, asked people to state how they are going to make the payments. I usually just give a time window when I want the payments completed. It usually works, sometimes not so much;) 

Link to comment
Share on other sites

18 hours ago, Point Five said:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

It is the unpleasant side of doing business but in the long run if expectations are set up front then there are less issues later.

Link to comment
Share on other sites

3 hours ago, GACollectibles said:

It is the unpleasant side of doing business but in the long run if expectations are set up front then there are less issues later.

Andy, my apologies for taking the 16 months on those Spawn #1 payments. In retrospect I let that drag on far too long.  :foryou:

 

Link to comment
Share on other sites

6 minutes ago, Point Five said:

Andy, my apologies for taking the 16 months on those Spawn #1 payments. In retrospect I let that drag on far too long.  :foryou:

 

And I am sorry that I let my cat pee on them before I shipped them out.

 

Ok, maybe not that sorry.

Link to comment
Share on other sites

8 minutes ago, GACollectibles said:

And I am sorry that I let my cat pee on them before I shipped them out.

 

Ok, maybe not that sorry.

Yeah, they are definitely 'qualified' 9.8s now.  :(

 

Link to comment
Share on other sites

On ‎7‎/‎28‎/‎2018 at 10:00 PM, wombat said:

So were the timing of payments not set in advance?

In my case they were set in advance, but what wasn't covered was what would happen if the buyer was late (which he was, months late). 

Anyway, as of last Saturday everything is back on track. :smile:

Link to comment
Share on other sites

On 7/25/2018 at 10:30 AM, Point Five said:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

The list is pretty long and detailed but whatever kind of time payment deal is agreed on it's best to have a date of completion and an agreement on what happens if the buyer fails to complete payments at an agreed time.

Link to comment
Share on other sites

8 hours ago, thehumantorch said:

The list is pretty long and detailed but whatever kind of time payment deal is agreed on it's best to have a date of completion and an agreement on what happens if the buyer fails to complete payments at an agreed time.

Are the terms of the refund of a deposit mandated by state or federal law?  Do any lawyers want to weigh in on whether a contract overrides said laws?

Link to comment
Share on other sites

19 minutes ago, wombat said:

When there are time payments does the book go to the buyer during the payments or only after they are done?

I have sold some big books with time payments and I only ship the book after the last payment has been made. To do so before seems very risky. ( One time I did send out a book before I was paid in full but the boardie and I had done around 10 deals so I wasn’t worried).

Most around here are very legit people but you will always come across a bad apple now and then.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
21 21