Sell under agreement of further payment?

Hey, so I was wondering if there was a general guideline to follow if for example, I was to sell an account to someone that does not have the full funds right now and we agreed that he'd pay the remaining amount in lets say, 4 weeks.

What would happen if after 4 weeks ( lets say i gave him an extra week, so after 5 weeks) he didn't pay the remaining amount:

do I have to give him back the initial payment in exchange for him not having access to the account I sold him or am I allowed to keep a certain % of it / all of it?

Just wondering because I might be doing that kind of trade in the future and was wondering if any1 had ever done it before.

(sorry if i wasn't clear)

 

You would be allowed to take the account back, but I think you would have to refund the full amount received so far unless you both agree on it (you keeping a % ) up front.

 

mmk thanks!

 

any other opinions?

 

Matters on a specific agreement you make. sythe is a free market.

But if you want to be paid timely, don't leave anything to a gray area

 

Quite sure Chechen is right on this one. On the other hand if you had given him the account and he hadn't paid you by the agreed timeframe, you could report it as a scam and he'd be banned.

 

I'd definitely say this. Draft up a terms of agreement and shoot it to him in a pm on sythe, and have him respond agreeing to the terms.

 

that's what I was gonna do but trade fell through! thanks anyways!

 

^

Make an agreement that there would be no refunds or something, that way the user would be forced to pay you in full at the agreed date.

 

here's a draft I had made for such trade if anyone wants / needs one.

Oldschool runescape account sale between SytheUserOfSeller (Hereafter "The seller") and SytheUserOfBuyer (Hereafter "The Buyer")

Total amount of the trade: 180M Oldschool GP
initial payment (November 11 2015): 120M Oldschool GP
Remaining balance as of November 11 2015: 60M Oldschool GP

Payment must have been done in full 1 month after the purchase of the account (November 11 2015 - December 10 2015)

If the payment has not been honored fully on-or before December 10 2015, the buyer will have 1 week to fully honor the remaining balance + 10% interest.

If the buyer has not finished paying fully the amount due after being given a one (1) week extension, The Buyer will be given back the initial payment (120M Oldschool GP) plus any subsequent payments that had been handed over to reduce the remaining balance, minus 15% and his rights on the purchased account will be revoked.

Written on November 11 2015 by Accounts_shop

 

Read the entire terms and conditions, & it looks good to me. I do hope you're trading with a trusted user, as to avoid any damage he could do to your account in the process of gathering the payment. Better safe than sorry, best of luck bud.