My question involves vehicle registration or title in the state of: California
On Sunday, I met up with somebody to buy a car and we mutually agreed on the price of $9450. I was going to pay with a personal check, but he wouldn't accept it. He said cash or cashier's check only. So we agreed on a cashier's check and since monday was a holiday we agreed to do the exchange on Wed, 2/22. I did not leave a deposit, but I told him I was positive I was going to buy the car and that I would not back out on him. Both of us agreed on the time, date, and price and shook hands before we left. I also send him texts asking him what name to put on the cashier's check and what day to deliver the vehicle. He just now texts me that he doesn't want to sell the car for a loss, and is no longer willing to sell the car to me. As far as I understand, our verbal contract is as good as a written one. There was absolutely no ambiguity in our verbal contract.
I guess after giving him some time to talk it over with his wife, he did not want to sell the car at a loss and decided to back out on the sale.
What can I do?