Help me understand why...
Posted 15 March 2009 - 07:02 PM
I know a friend who financed the sale of his PSL's. He found a buyer, they put a down payment down on the PSL's, and then paid him in full for the tickets. They missed a payment halfway through the season, he tried to contact them, they didn't respond, so he went into his acct. and voided the rest of the season's tix that he had given the guy and subsequently sold his PSL's again to someone and kept every penny the first person had given him.
Posted 15 March 2009 - 08:23 PM
One thing the Panthers have the advantage over individual sellers is the fact that they finance. That option allows them to charge a higher price because they finance you with 0% interest. People trust the team so they are able to get a premium for their PSL's because of their financing. This is why individuals have to keep cutting their price to try to find someone with cash who gets a big discount because they're paying cash.
What I never understood is why individuals, if they're not desperate for cash, aren't willing to finance a buyer?
There is nothing to lose and everything to gain. You finance someone and get a bit higher price for doing it, you draw up a contract and notarize it, and you never put the PSL's in their name until they have paid you in full.
And if they miss a payment? They just lost everything they paid you and you still have the PSL's.
When I bought mine, the seller agreed to it but it was because we'd been talking and working a deal but he didn't think we were going to agree to terms and sold the tickets to all but one game. So I gave him 1/3 as a deposit, and the other 2/3 was due at the end of the season. Worked out very nicely.