Please give me your legal opinion about the purchase of a Cobra. Am I required to buy the car since my bid was accepted by the court?
I agreed (email) to purchase a SPF Cobra for sale through a bankruptcy proceeding. I started the process in August 2012. Viewing and test driving the car was difficult because the schedule of the owner and trustee. I was told in October 2012 the court needed about 2 weeks to approve the sale. I bid and won, but it took 2 more months for the court to approve the sale.
I no longer want to buy the car for several reasons. The car is still in possession of the owner and may not be protected from accidents in and around the garage. Is the car being driven? Is the engine protected with sufficient
antifreeze? I have many similar car care concerns especially considering the current owner no longer cares. The owner has also lost his house and in preparation to move has stacked stuff 5’ high around the car in the garage. The value of the car would be greatly diminished if the paint is damaged.
Kentucky DMV ended “classic car plates” for replicas during the time I was waiting for the courts approval for me to buy the car. Previously sales tax and annual property tax were not required on cars with classic plates. This is a big additional expense.
To the best of my knowledge an email can be considered a legally binding contract, but I have not completed any paperwork or given a down payment.
The bankruptcy trustee has agreed to lower the price of the car to offset the Kentucky sales tax cost, but now the attorney wants the car paid for in advance before he seeks permission to sell me the car (at lower price). The attorney has threatened me with a court order requiring me to pay the difference between the cars future sales price and the price I bid if I do not accept his purchase requirements.
Since the attorney’s threat email I agreed to buy the car at the lower price, but told the attorney I would not pay for the car upfront and must inspect the car again prior to the close of the sale. I did this via email twice and a phone call over the last 3 week. He has not responded to my messages or phone call. I guess he is pissed.
I cannot afford a legal fight and I don’t want to buy the car if the car has been damaged. I would lose all leverage if I pay for the car upfront. I asked the attorney to take the car to a safe storage facility, but he refused.
This will be my fourth Cobra purchase and three of the four have been very difficult. I was not meant to drive a Cobra!
Please give me your legal opinion. Must I buy the car or pay the consequences?
Thanks
Tom
X SPF140
X SPF1823
X Superformance S1
X Everett Morrison Cobra