Ann: Purchase and Sale Agreement Update, page-22

Related: I have actually sold about 30 cars in my time.  Every single time a car has actually sold, the person who bought it paid me a deposit.

I have also been told maybe 300 times that my car is totes sold, they'll totes come up with the money tomorrow or the day after or whatever.  And never, that's right, not even once, has any of those people actually ended up buying the car.

To me that's perhaps the biggest red flag here.  No deposit means no penalty for default, which means the contract is more properly characterised as an option to buy, not an obligation to buy.