I've made many. I well recall one with bankers that was dishonored quickly without notice.

Handshake deals, any stories?

I sold my street bike over the phone. It's kind of a rare motorcycle. A guy from MN sent me a certified check after having someone he knew come take a look at it and send photos. He and his wife are supposed to come and get it around the end of the month. They will ride it back to MN, hitting some sights on the way. For a month I've had his money, the bike, and the title. He said he could tell I was trustworthy from talking to me. I think he's a bit lucky myself!

Usually how I do business.

Getting the short end of the stick is the rare exception, rather than the rule.

Agreed to buy a cabin with a few other guys. 2 of us went and met with owners. Discussed things and agreed to buy.

The 2 of us got back and were informed the other 3 individuals no longer wanted to be in the deal. Guy I was with started fretting and asked, what do we do?

Told him I was sticking to what I committed, and that was to buy. Not the sellers' fault our guys got cold feet. The intended cost tripled from what I had planned.

Among honorable men, a hand shake is really all that is necessary.

Been looking for a house for over a year. No luck. Happened to be driving down out road and see an old fsbo sign leaning up against a tree, not really pointed towards the road. Take note of address and start prying into who it might be that owns and how much land.

Contact the owners and ask if they were selling. Said no they weren't but had been considering. Wife was about to retire. They discussed, and said they'd consider selling. Let us come see the interior a week later. I asked him what his price was. He told me. I shook his hand and said we'd buy it.

Contacted my lawyer and put a rush on him to get a contract before the seller could back out because it was a lot of money, but a really good deal. Sitting in said house as I type.

Ha...I sold a 4 runner to a fellow, he paid me and I haven't seen him since, it was a month ago and no papers were signed.
We shook hands to cinch the deal so.....thats the contract and I will honor my end.

Bought 2 new pickups and a new Moto Guzzi over the phone .

Bought a cabin onna lake in Northern WI. in '67, over the phone.

I'd rather do a handshake contract with an honorable person than a hugging a stranger who doesn't know how to respect personal space.

I've made short sale deals with bankers with a handshake AND a written confirmation on their letterhead that they disowned. Bankers are some of the most unethical pukes I've ever had the pleasure of dealing with.

On the other hand, I've made multi 6 figure deals with business associates that flew like an eagle and made everybody $$$.

When I got out of the army in 1969 I went to work with a old line southern company ran by gentlemen, you didn't need their hand shake their word was good as gold. over the next 15 years I changed jobs a few times moving up the ladder and business ethics were much the same but then I got into the turnaround, M&A business and every thing changed. No one's word was good, if it wasn't in writing and you were willing to sue you might get enforcement. I quickly learned there was no such thing as a friendly banker. I retired at 55 and have gone back to just dealing with people I know & trust.

Last time I tried that, it didn't work out so well. I contacted a local man (black fellow in his forties) who advertised that he removed trees. He came over, saw the job, talked about all he would do for me (take the huge dead oak down, chop it up, put it in a pile, and clear an area around it, ready for burning). Then we negotiated price, and shook on it. He came over with a partner, took the tree down nicely, in exactly a direction that avoided damaging structures and fencing (impressive), and then asked for his money. I said the best I could do was to give him half, since he hasn't finished the job we discussed. He became furious, insisting that nothing was ever mentioned about anything other than bringing it down. I held my ground, till eventually he agreed to take half, and he'd come back another time to do the rest. Well he came back with heavy equipment and cut some of it up, and piled most of it together, but not nearly like he described. However, just to get rid of him, when he said he was done, I wrote him the check for the remainder.

But having things in writing avoids problems like this. People often remember handshake deals differently from each other when it comes time to get paid.

Since moving to NWO, we've been involved with 2 major purchases that were started as handshake deals.

Bought both our home & current business, as private sales & comfortable in both.

I don't think that I have ever sealed a deal with a handshake, but I have sealed many with only a verbal commitment and have never been disappointed.

Bought a house on a handshake. I didn't find out until a couple years later that the seller had another interested party approach him after we'd shook hands, and before we put any pen to paper. He could've worked it in his favor, but he didn't.

But to be fair, it didn't have the same amount of commas as some of you high rollers here. lol

2 weeks ago had a local guy approach me to buy a trailer. Agreed on a price and he reached into his wallet to leave a deposit. I shook his hand and said no need. My handshake is my word. Spent the next day emptying the trailer. Took all of the shelving out as per his request. Had to rearrange everything in the garage to fit the stuff from the trailer. Called the guy and left him 3 messages over the next 2 weeks. No response. I guess keeping his word Isn’t as important to him as mine is to me.

Hand shake is your word.

The only people who require a paper are the ones you can't trust. They don't trust you because they know who they are and figure you are the same.

Maybe. (Certainly it would not be necessary with my friends).

But, maybe they've just been on the bad end of a deal that didn't have the terms clearly understood by everyone.

This was late 80s. I was livIng in Minneapolis. Put ad in paper wanting to sell my Audi 4000 sedan. Some guy from North Dakota called and wanted to look at it. He did, drove it and said I’ll take it.
He came back next day with a bank check for asking price. I handed him the title and keys.
A week or so later he called and wanted to return the car. I asked why, he said he was being deported.
I told him no.
Last I heard of him.

Back around 1960, my father made a deal with an Italian stone mason to open him an account and Dad would give him free delivery on top of 30 day terms. Almost 60 years later, the company still has their account and is one of our biggest customers. It's now run by the guys son, who I just hung up the phone with. He's getting ready to retire and his sons are taking it over slowly. They always pay their bill on time and we still give them free delivery. They spend about $500K every year. That sounds like a good handshake deal.

Then there's the azz holes that we have signed credit applications with and the bastards pay slow, or not at all.

I just sold a house on a handshake. The last truck I bought from Toyota was also on a handshake. I had to sign papers when I picked it up two days later but the agreed on price held up...If I cant do a handshake agreement with a guy I don't trust him...

Bought a new truck at a dealers one Sunday morning, on a handshake.

Got caught without a vehicle and needed to get back to work on Monday morning, in Illinois. Called the local ford dealer and met him on Sunday morning at the dealership. Told him what had happened, I needed a vehicle to get to work, and I wouldn't be back for a month. He said to pick out a vehicle and I picked the least expensive truck on the lot. Shook hands and I drove off in the truck. Came back a month later, made a down payment, and signed the papers to buy the truck.

The fellow sure helped me out of a bind.

A good buddy's father passed. Family became aware of a deal he had with another, somewhere above 200G still owed. No legally binding documents. Guy simply said he wasn't paying. Sack of chit.


Basically, we just bought our house on a handshake. Of course we had to formalize things for the financer (my end) but all steps were shook on and complied with. It was a big deal for us all and went without conflict. I'm fortunate to have the opportunity to deal with such good folks.

Had a friend that wanted to sell a car. I put him in touch with another friend. The other friend and I went over to the first guys house to look at the car. A price was negotiated and agreed upon, both parties shook hands. The second guy came back a week later with the funds. The first guy reneged, said the car was worth more than the agreed upon price. I never felt the same about him. A man's handshake should be his word - nothing else is acceptable.

I've got a contract form in my computer but rarely use it for jobs I do. The State requires one, but as was noted above, between honorable people, it is not needed.

I recently completed a small irrigation install for a customer and told her I would do it by the hour, t&m, but would try to keep it under a certain price. I went over on the price, but honored my maximum. Later she says I must have picked up her scoop shovel while I was there. Nope. She was very particular about brand and all, and I just ordered her a new one and delivered it to her door. No, I didn't take her shovel, but I can see why she thought I did since it disappeared about the time I worked there. I wish I could see the look on her face when she discovers her old shovel and realizes she accused me falsely and I didn't even blink when offering to buy her a replacement.

Got a call Saturday that she had a leak in the system. I went over on Sunday morning to fix it, right in the middle of my two week vacation. She was apologetic but I apologized and said Hey, I'm the one that screwed up, don't apologize to me.

Got a call this morning from a company I did business with a few weeks back. I had a refund sitting there I'd completely forgotten about. They could have kept it and I would never have remembered.

There's still a lot of good people out there. If you're discerning and careful who you do business with, you can stay out of trouble most of the time. I worry more about the State of Oregon checking me on a jobsite and me not having a signed contract with the customer than I do any customer I decide to work with. In other words, government is a bigger problem for me than my customers.

*Disclaimer- Early on in business when I was about 25 I had a signed contract for 6 figures but neglected to get signed change orders for additional work I was promised I would get paid for. At the end of the project I turned in change orders totaling $32K and was told they would not be paying them. People can be bastards too.

Very cool, Stonecutter!

Liars, drunks and thieves flourish in my neck of the woods.

For the most part I've tried to be a friend and good neighbor . During my time here I've loaned $$$, tools and paid for services in advance. Can't think of anyone that has kept their word. Sad

My former business partner had a saying- - - - -"You've gotta screw your friends because your enemies won't stand for it!"

I thought he was joking. He wasn't!

He's gone now, and I don't like to think about where he's probably going to get to spend eternity!
Jerry

Anything more than a few a canteloupes, I want some earnest money, notary, certificate of insurance. Buying or selling.

ya i just got screwed by some punk on a car deal. he haggled me down below where i wanted to sell it at but and i figured i would give him a break seeing as how he was a kid that was in scouts with my boys years ago. i told him i would hold it for a few days without any deposit and we shook on it. never heard from him again. i guess he didn't get the Trustworthy part of the scout law.

Keep believing that, someday you will learn different.
Ever say, "I just can't believe xxxx would do that to xxxx"?

You trusted them to behave better, and they failed you.

The "Con" in con-man stands for confidence.
You can't be scammed by someone you don't trust.
They earn your confidence first, then take your money.
The more innocent and sincere they appear, the more you trust them.

I have been cheated by a lot of people, friends, family, co-workers,
A borrowed buck, to what was a years gross wages once.
I try to trust people, and do the right thing, they don't always reciprocate.
It's on them, I sleep well.

Sometimes, you just trust someone, and d on't know why.

I was sleeping in my truck outside the Giant Eagle grocery warehouse, right
beside a housing project.
About midnight, someone beat on the bunk, about half scared i peeked out.
A big black guy was there, and wanted to see my bills.

Why.

He said, "Look. My old lady needs gas to go to work tomorrow, and we are broke.
If you could give me $20, I will unload you in the morning for $40 more. Thats
less than half price, but I need gas. Ask anyone about me, I'm Darcy, and I lump trailers
every day".

Well, I couldn't ask anyone, and this was going to be my money spent.

I gave the damn guy $20.

Then laid back down, wondering "Why in the hell did you give that dude money".


Next thing I knew, someone was beating on my truck again.

"Driver, get up, it's 6. I done got you a door, just tell them your Darcy's truck.

Still don't know what made me trust him. I never trusted anyone that gave me a SOB
story. Driving as a baby faced 21 year old made me a mark. Every-dam-day.
Glad I did, he needed the break.

I had a storm chaser here last week. Said I needed a new roof. I looked it over with him and sure enough, I need a roof, hail damage. Dimples all over the roof. We agreed that he had the job after I contact my ins. company and shook on it. My word is good!!

Wifey checked the 'net for complaints against the company. Lotsa, and I mean a lot of complaints. I called him back a few days later and told him "not a chance are you doing my roof".

My word IS good if your background check is good. I did my due diligence. Probably saved me a giant headache.

He seemed like a nice guy, and was very professional. To bad he works for a crooked company.

Just this afternoon I closed the sale of 100 acres of bare ground. Only paperwork done before closing was him giving me an earnest money check. 10 minutes at the title company and done.

We bought our first house when we were first married and closed on it the same weekend we were married. We lived there for a couple years when my wife was offered her “dream job” which required us to sell it and move back to the west side of the mountains. Our neighbor at the time wanted to buy it before we listed it with a real estate agent and we agreed on a price and shook hands. We thought that $10,000 more than we’d paid 2 years earlier was a great deal for us. Over the next couple of weeks we had 2 other neighbors offer us considerably more than what we were selling it for and to top it off my wife got a call from another pilot that had tracked her down somehow because he had known about our house, where it was and what it was worth. He offered us $75,000 more than our handshake deal with our neighbors but we declined. Many people that knew us and that knew how much money we were leaving on the table thought we were crazy or stupid or both and maybe we were but I could sleep easy and look myself in the mirror each morning knowing that I wasn’t tempted to back out of the handshake deal.

We might’ve made a lot more money than we did but in the end my word was worth far more than the 75 or 80 thousand dollars we stood to gain. We were initially content to walk away with $10,000 and greed wasn’t going to change that. We sold it to our neighbor for what we had initially shook hands over and I stood by my word. I’ve regretted selling it too cheap but I never regretted living up to my word and standing by my handshake. Our children have heard that story many times through the years and I hope that it sticks with them throughout their lives. Your word is your bond and a man’s handshake is his promise.....to break either one is a reflection upon ones character, or lack there of. I want my children to have a positive example of what a man should exemplify and that BEGINS with keeping your promises.

I hate liars, cheats and thieves with a passion!

"Friends" are the worst when it comes to reneging on deals.

A few years ago at the Tulsa gun show, about 1 hour into the show I made a deal on a rifle. No way was I gonna carry that heavy rifle all over the show for the next five hours and I was not keen on carrying it out to my car. I gave the seller $1000 cash and asked him to put it back and I would be back later to pick it up. I started to leave, but stopped and asked him to write my name on the tag on the rifle case. I never got his name. As I walked away from that table I said to myself “What the hell did I just do?” I walked all over the show and came back hours later. His partner that was helping him at the table spotted me approaching and cheerfully handed me the cased rifle.

Maybe a small handful of grapes.

I fuqked up and did a deal like that one time, it wasn't for anywhere near that amount of money but I still shake my head at myself once in awhile but I'll never have to shake my head at myself for lack of integrity.

An honest guy dont might signing a contract.

A handshake should be good enough.

But those times sadly are gone.

Looking a man in the eye, giving a firm handshake............rare thing now.

Esp among the college guys.

WTF

People often remember handshake deals differently from each other when it comes time to get paid.

I recently put the word out that I was looking to have some drywall work done in my home. It took awhile but eventually a guy shows up and gives me a price. When I asked him for references he pretty much became unglued in my kitchen.

Bye bye.

^^^THIS^^^

I've made more real estate deals this way than the other. And, in general, all deals. If someone backs out on their handshake, you're probably lucky not to be doing business with them.

I have often thought about how doing the right thing always costs you.
Then I realized,
that's why many don't do the right thing.

I always tell my kids, do the right thing.
You can hold your head up, and you can sleep at night.
Sometimes, when it seems that's all you have,
It's enough.

Financed my first two houses on a handshake with local banker. Second one, I had to bring a loan app back after the closing so he could have it on file. They were bought out by a regional bank. Five years later couldn't get a bridge loan for next house with a Fortune 20 company guaranteeing the loan... That was 30 years ago. Have not dealt with that bank since...

I do pretty much all side jobs on a handshake basis. Screw me, and I will never work for you again. (As one of my neighbors found out the hard way).
I've only walked away from one side job without completing it. It was a job installing a chain link fence with two buried obstructions to be aware of. (Gas and sewer) and a total of two gates, 6 terminal posts and and about 15 posts in all. The customer kept moving the post holes by A few feet, even though they had been laid out with paint, measuring tape, and agreed to, before any digging was done. I hand dug (porthole digger) more than 40 holes, before giving up on ever finishing. I informed the customer that she needed to contact a fencing company, who would lay out in contract form exactly what the end result would be, and be held to it. I walked away with nothing but blisters, and two wasted days.