someone wants to buy my caravan and put down a thousand dollar deposit, how long is time for settlement?
How long is a reasonable time for settlement after people give you a deposit of a thousand dollars?
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- Whatever time you and the buyer mutually agree upon. If you had no specific agreement as you took the down-payment, send him a registered letter with return receipt asking him to complete the transaction within a reasonable time, say 1 week, but no less than 3 days (specify) from his receipt of this demand letter. If he does not respond and complete the deal, send him his down-payment back. I hope you did not yet sign over the pink slip (title, or ownership papers), right?
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