Sign on the dotted…
Sign the paper at the bottom and ask the buyer to do likewise. Make a copy, keep it and give the original to the buyer. This can be hand-written or printed: it makes no difference.
This done, a binding contract exists between buyer and seller. It doesn’t compel either party to complete the deal. But if either withdraws, the other is due compensation – enough to put them back as they were before entering such an agreement.
In theory, should you decide not to sell, your buyer can sue for travel expenses and lost time. They could even push for something lawyers call ‘loss of bargain’ if they can prove that they missed out on other cars that were as good (or better). Though this rarely happens, we’d say it is bad news to halt a sale unless there really is a crisis.
If the buyer pulls out, you are entitled to keep part, or all, of the deposit. Don’t be greedy, though. Hold on only to what you believe to be fair.
Before your buyer returns for the car, gather together all the car’s papers, including the handbook, service records and MoT certificate (if it needs one: any vehicle that’s three or older will). Put them to one side, ready to give to the new owner.
Check that you have the vehicle’s registration document, the V5C and read the section on change of ownership carefully. You’ll find more on the Govt’s web site, in the section that covers car ownership.