Buyer wants to "Layby" item

[jimbojones99]

I am selling a $500 item and a buyer wants to pay it off. I quite happy with this but don't know how to do it.

[curraone]

He purchases.  You send him an invoice with your bank details.

[phorum_junkie*]

Make your terms very clear, bank deposit preferred because they will have no Paypal buyer protection anyway as items must be paid for in a single payment to qualify. The item must be paid for in full by XX/zz (be sure the date is sooner than 32 days so you can open an unpaid item dispute) and that the item will not be sent until full payment has been received.

The alternative is to put it in the too hard basket and refuse.

[aps1080]

I would go one further than the above and get him to specify the dates he will make a payment and the amount.

[cherry*135]

Specify the amount you want for a deposit. A % of total costs. Make it a reasonable amount so they don't just forget about it, not concerned if they lose deposit and don't bother making any further payments.

Specify how many weeks the layby is for. Also work out the amount to be paid every week/fortnight. Total cost-deposit/ no of payments due before end date.

The above could be negotiated with buyer.. for example, you may say 6 weeks, they may ask for 8 weeks

A clause stating layby will be cancelled if  x no.  of payments are missed and  details of any amount you will hold back from the deposit as a cancellation fee/restocking fee.