Do you think it's  "unusual" for a private handgun seller to ask the buyer for 20% deposit to hold the gun during the registration/waiting period, with the balance to be paid upon delivery?    Thanks!

Do you think it's  "unusual" for a private handgun seller to ask the buyer for 20% deposit to hold the gun during the registration/waiting period, with the balance to be paid upon delivery?    Thanks!

I think it's a reasonable request.  I have done it three methods, paid upfront, paid half and half, and paid when the gun was picked up. 

With both people have each other's info in full, it's hard for one or the other to run away.

I can see someone might be less likely to back out if there is a nonrefundable deposit involved.

Do you think it's  "unusual" for a private handgun seller to ask the buyer for 20% deposit to hold the gun during the registration/waiting period, with the balance to be paid upon delivery?    Thanks!

Not at all.

I think it's a reasonable request.  I have done it three methods, paid upfront, paid half and half, and paid when the gun was picked up. 

same here

100% up front here

I agree with money up front. An amount can be agreed on. I think it helps to protect both parties interest.

Do you think it's  "unusual" for a private handgun seller to ask the buyer for 20% deposit to hold the gun during the registration/waiting period, with the balance to be paid upon delivery?    Thanks!

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20% seems reasonable. Some type of deposit is common sense.

I actually offered this to a seller once and he declined the offer. So the seller asking for it is reasonable IMO. 

If I recall correctly the for used pistol I bought from a member here I offered to pay half down after initial inspection prior to going to get my permit to acquire. It was a reimbursable deposit incase for some random reason my PTA was denied. The other half was paid at HPD prior to doing the transfer.


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For NFA sales in same State , its always half up front and half after the ATF approval.
For out of State, First FFL fees are paid by seller.

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20% seems reasonable. Some type of deposit is common sense.

+1

Buyer gotta put down some kind of earnest money to show they're serious.

deposits are very reasonable. i do that in my business all the time. both parties have equity in the transferred item and shows commitment on both to complete the transaction and not waste anyones's time.   

I would expect at least 50% upon inspection of the gun and while registration is complete, if not 100%.  So 20% sounds super reasonable to me. 

Of course the deposit would be refundable. You never know.... things change/happen....
Just wanted to make sure my policy is not out of line with the norm.....
As always, Thanks!

Yes that way seller knows your not going to just jerk him around.
davek42

On a related note when I teach firearm classes and ask for payment on class day.  A lot of people sign up but half of the students don't show up.  I started charging up front and it really cut down on the amount of signups but they show up for class unless there's some kind of unforeseeable circumstance.