Impulsive Buyer

October 21st: While casually browsing Craigslist, I came upon an advert for a BMW K1100LT for $700. I did not have plans to purchase a motorcycle, but it sounded like a very good deal, and I promptly replied via email.

October 22nd: I did not receive a reply, and so the very next morning I called the provided telephone contact number. The owner, George, was out fishing and we agreed I'd come by and take a look. The motorcycle was at his son's place, about 50-miles away, and a number of interested parties had already called. I mentioned I couldn't leave until after my son's soccer game in a few hours, but I would be over immediately after.

The discovery: a 1993 BMW K1100LT in relatively poor cosmetic condition, and registered as 'not in operation' since May 2009. A quick inspection revealed the motorcycle could not be started, the front tire was flat, and the front brake did not work. The odometer read: 89,909 miles.

George had acquired the BMW from his brother Peter in October of 2004. Peter, the original owner.  purchased the bike new on May 6, 1992 for $16,562.48. The motorcycle had 2 miles on the odometer when Peter took delivery.

I had an extensive background with motorcycles, but have not thrown my leg over one since 2005, when I sold my last motorcycle.

I quickly decided that despite the issues, this would be a fun tinkering project that would keep me occupied.

I promptly struck a deal: $30 earnest money to hold the bike with $670 balance due when George returned from his fishing trip and delivered the vehicle title.

Got what we needed in writing, by executing a hand written contract. We scheduled to meet on November 3rd to finalize the transaction.