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 9 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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