My question involves a consumer law issue in the State of: Iowa.
I sold my motorcycle to a buyer on Craigslist. I stated that there were 8700 miles on the bike. He brought a "friend" that owned a dealership to look at the bike. The friend examined it. He examined it. The friend rode it and told him to buy it. We had agreed on $11,000. He gave me $10000 in cash and a check for $1000. He then followed me to the bank (30 miles away) to get the title.
Upon arrival he stated he was happy with the bike. I got the title. I signed it. He signed it. We shook hands and left.
Later that night he texted and said the bike had 24000 miles and he wasn't sure how he felt about it. (Long story shorter...i had mistakenly advertised the B trip odometer.)
He stopped payment on the check for $1000.
What should I Do? Am I legally obligated to buy it back? Should I pres charges for the check???? The bike is worth more than 11000 even with the 24000 miles. He got a great deal!! Help!!