Selling laptop on yahoo

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Question

Country: Singapore
State: All States/Provinces

I'm selling off a laptop off a local yahoo auction site and have attracted a bidder who wishes to pay the item by installment since the item does not come cheap. However his one time down payment is a rather small amount, 25% of the auctioned price and the remaining of which he will pay every week which will be fully paid and settled by the end of 1 month. He has said he would verify that he is a local student with his local ID card but how to I bound him so that I can get assurances in the case that he defaults on his payment or worse still, backs out on paying me? Would a simple note written by him saying that he will pay up over a month signed by him do?

Answer

Don't do it unless you want to sue in small claims for any default.