So since we are talking buyers etiquette here, let me pass this example by you and tell me what you would do. This happened to me on the sale of my RV12 and I still feel bad about it.
Your thoughts?
Communication is key. The seller is always in control and the buyer rarely is. If you are a buyer and the seller has not thought about this part of the sale, then an opportunity exists to take control and tell him what you need to be a perspective buyer. "I'm on my way, I'll be there in four hours. But if you won't agree to hold to for me until I see it then I won't waist my time." I suggest sellers do the following
1) Establish the rules for any sale before you item is listed. (All buyer will respect you for doing this.)
2) Communicate clearly to every potential buyer what the rules are. (All buyer will respect you also for doing this.)
So, If someone is "on the way" should you hold it for him?
IF someone shows up with Cash, does he become King and thus snipes out all others?
If someone wants to have a pre-purchase inspection done, have you made a commitment for the sale to that person if another will buy it sight unseen?
It will provide comfort and set a healthy & trustworthy tone for the sale if an agreement is entered into by both parties after the potential buyer wants the aircraft. That contract should say "I will buy your airplane contingent upon...
-My seeing it and liking it.
-a satisfactory pre purchase mechanical inspection, and
-maybe other contingencies,
-and here is a deposit to show my sincerity. If I back out, then agree how the deposit will be returned.
So, If cash is King for the sale of your aircraft, then clearly state that to the potential out of state buyer. If a deposit enough for the seller to be faithful to the buyer until an inspection, and financing can be lined up, then state so and be faithful to yourself and the potential buyer. A simple written agreement will give a lot of peace and clarity, but maybe just communicating clearly is all that is needed.
If you are selling and want Cash to be King and clearly communicate it, then the guy was on his way, driving as fast as he can knows that he might loose the aircraft to another buyer. Fair enough, but we gave clarity and removed unmet expectations by using clear communication.