Posted by Dr B (OH) on August 27, 2003 at 20:18:21:
Once you give them the keys its the devil to get them out if they don’t pay up. I would have them give me the $500 and sign a note for the balance at a relatively high monthly payment just as if they were going to finance it. THat is, if their credit and criminal Hx check out ok. When they get the cash they can pay off your note. If they don’t get the cash, they can pay the monthly. Hold the title until you know which way its going.
My 2 cts.