I have a little jon boat a trailer for sale on craigslist. I had a 2 folks come by Saturday and check it out. Second guy hits my price and say he will get back with me Monday afternoon with the rest of the cash. He gave me $50 earnest money to hold it. I delete the add and consider it sold. Drag it to the house and to work Monday. I get a call from the guy say that his girlfriend's car started acting up and that he would be taking it to the shop. Thought it was the transmission. Told me he would not have the money to buy it, and for me to keep the $50.

Rather than just be done with it, I told him I would give him a couple of days to get his car to the shop, get it diagnosed, and see how empty his wallet was going to be. I feel like I owe it to him for the $50.

I had my doubts/suspicions in the beginning about the deal. Heres the question: Do you give the earnest money back in this situation?

Sounds like he's being honest just because he told you to keep the money. If I had others interested in the boat, after a few days I'd relist it and give his money back.

This is what I would do. If he can't buy it now sell it and If you get what he was going to pay give him his money back.

X3

It's not like you are out anything except a little effort in listing it on CL

This is what I'd do. Things come up when you least expect it, and I think it's the right thing to do.

X4

I'll make it unanimous. Give the money back. Sounds like it will be sold soon anyway. What size and how much if I may ask?

That's the direction I was headed when I questioned my better judgment and asked, what is earnest money for if you are just going to give it back.

I think I have the guidelines down... If they tell you to keep it, give it back. If they insist they get it back, you keep it. Anywhere in between is a judgment call.

The boat is a Lowe 1436 with trailer, both in real good shape for 950 obo. If you know anybody interested, pm me and I will give all the details. May put it in the classifieds soon.

I would give it back to him once it sells.

Keep it. If he comes back for the boat before it sells, give him credit for the fifty.

Anytime I have ever given anyone money to hold something for me I have always considered it theirs if I didn't buy it or come back. Of course I always have followed through. I say give it back if you want to be generous but you are not obligated to.

I'll add, next time ask for 100 to hold it. They might be more inclined to follow through.

Give it back, The good Karma will find you. That is the way I look at it. On one hand if you keep it will you feel guilty? That should answer your question.

I would give it back.

I would also give it back to him.

Give it back, sounds like the guy was straight up.

I would give it back, sounds like he was genuine. I e er take Ernest money just for this reason. First one with cash in full wins.

Sounds legit excuse, give it back, it'll come back to you.

The fact that You asked the question about giving the money back, in this situation leads Me to believe that it is what You feel is the right thing to do anyway. I'd give it back to him. He could probably use it towards fixing the car.

Earnest money, by design, is meant to be kept if the deal goes south. Sounds like the buyer understands that, and has met with extenuating circumstances, and expects you to keep it.

In today`s world, that`s reason enough to let him have it back. The OP`s last post sums it up well.