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  1. #1
    Join Date
    Dec. 8, 2010
    Location
    Virginia
    Posts
    51

    Question owning again - pls share your thought process

    Hi everyone!

    I am a newbie here, so please be kind.

    Currently I am seriously thinking about buying a horse again after many years. I half leased for the last few years, but obviously did not have the major expenses and everything else that comes with owning.

    I have been toying with the idea for a few months and just casually browsing around for prospects, but went out last weekend for a test ride. The horse seems to be a wonderful fit for my skill level and where I would like to go in the future (although out of my original budget). Plus he reminds me so much of my previous horse (extremely good thing). Trainer loves him too.

    My concerns are more of getting back into the swing of it all, catching up on what has changed over the years, not being in too deep over my head, not buying the first horse tried, etc., etc.

    Has anyone has been in this position recently and what was your thought process to achieve the final decision?

    Thanks!



  2. #2
    Join Date
    Sep. 26, 2010
    Posts
    4,079

    Default

    Welcome to the forums!


    How exciting to be horse shopping with your trainer!

    It sounds like you've been back in the saddle for long enough to have a good sense of what works for you. If you are concerned about buying the first thing you come across (even if you feel good about it), you could either try a few more or see if it's possible to negotiate on the one you just tried out.

    I'm a firm believer that if it's meant to be than you won't have to fight to make it work and the horse won't disappear if you need some time to think about it.



  3. #3
    Join Date
    Dec. 8, 2010
    Location
    Virginia
    Posts
    51

    Default

    Thanks SnicklefritzG! It is exciting and nerve wracking all at the same time. I agree about the "if it is meant to be" train of thought. Hopefully it works out like it should and I will have something exciting to post about in the future.



  4. #4
    Join Date
    Sep. 26, 2010
    Posts
    4,079

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    I totally know what you're talking about chardo -

    There are times when shopping is exciting and other times when my brain hurts from the process. The modern era with the internet can be both a blessing and a curse at the same time. There are so many options which opens up new possibilities but then it takes a lot more work and time to sort through everything. I imagine it's tough for the sellers too.



  5. #5
    Join Date
    Dec. 31, 2000
    Location
    El Paso, TX
    Posts
    12,271

    Default

    Get a PPE from a vet that isn't the seller's vet. Ask for copies of the horse's medical records from current vet (owner will need to get vet to release them to you.). Write checks for payment to seller/owner of horse...not trainer/selling agent.



  6. #6
    Join Date
    Jan. 4, 2007
    Location
    TX
    Posts
    40,131

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    We are in a very strong buyer's market.
    If the horse is above your limit and that is giving you pause, why not make an offer that you will feel more comfortable with?
    They may just take you up on it.



  7. #7
    Join Date
    Dec. 8, 2010
    Location
    Virginia
    Posts
    51

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    Jetsmom - I am definitely planning on the vetting. The owner says he hasn't had any medical issues, but I will ask about getting the records released.

    Bluey - that is what I am thinking about. I don't want to insult them with what they might perceive as a low offer, but I also don't want to break my bank. I heard that 20% difference is the norm for offers, is this true?

    New wrinkle, other buyers are now interested in seeing him.



  8. #8
    Join Date
    Mar. 4, 2010
    Posts
    1,723

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    Quote Originally Posted by chardo84 View Post
    Jetsmom

    New wrinkle, other buyers are now interested in seeing him.
    Pressure selling alert! We call this the "lady from Dayton" approach. When we were looking for a house and found one we might like and were thinking about it, realtors would often call us and tell us that a "lady from Dayton" was coming to look at the house the next day. Of course no one was really coming to look at the house. This announcement is designed to get you all anxious and close the deal, maybe before you are really ready. This same thing happened to us when we were considering some expensive furniture and with a new car.

    Do not allow yourself to be pressured! Let them know that if it's meant to be, it's meant to be and if someone else buys first, well that's life. There are certainly PLENTY of other horses available right now. Don't fall for it!!!!


    1 members found this post helpful.

  9. #9
    Join Date
    Jan. 4, 2007
    Location
    TX
    Posts
    40,131

    Default

    Quote Originally Posted by chardo84 View Post
    Jetsmom - I am definitely planning on the vetting. The owner says he hasn't had any medical issues, but I will ask about getting the records released.

    Bluey - that is what I am thinking about. I don't want to insult them with what they might perceive as a low offer, but I also don't want to break my bank. I heard that 20% difference is the norm for offers, is this true?

    New wrinkle, other buyers are now interested in seeing him.
    When you are in a very strong buyer's market, you can "lowball" with an offer, because honestly, it is the buyer's call what a horse is worth right then.
    The seller will either flat refuse or make a counter offer and you both negotiate from that, now having a low and high limit you both are willing to talk in.

    Better is to ask the seller what is the least they may accept and then, if it is still to high for you, say so and then say what you think you want to pay and start negotiating then.

    When someone pulls that "someone is coming to look at the horse", I tell them to let them look and get back to me if they don't buy the horse.
    If they really had another buyer, there are other horses out there.
    If the other buyer didn't buy the horse and they contact you back, ask why the horse didn't sell and go from that, may be something you also didn't like and it will save time and a trip.

    If that was a ruse to get you to hurry or pay more, well, do you really want to do business with someone that walks the line of what is proper?
    No telling what else is not upfront there.

    Then, as a buyer, we owe the seller to be prompt, keep them informed of where we stand with our decisions and not take up their time unecessarily once we know if we want the horse or not.
    Courtesy needs to go both ways.

    Good luck, take your time and post pictures if you do buy.



  10. #10
    Join Date
    Feb. 19, 2009
    Posts
    4,535

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    me! I had been half leasing for the past year and the ultimate goal was to always buy my own, but I wasn't really planning to start looking seriously until the end of this year. Mentioned to my trainer to start keeping her eyes open for something suitable after we agreed on what I should be looking for.

    First horse out...perfect. Everything fell into place and was so easy, right in my price range, so I think it was meant to be. I've had her for 3 months now and although she has been a challenge, I can't wait to see where I am with her in a year. No regrets, as she will teach me a ton (has already) and will help me get to my current and future goals!

    So...see if the seller will let you take the horse on trial if you really are that interested. If you're a re-rider I imagine you've ridden a pretty good range of horses in the past so know what you're looking for. As for the price, like my trainer told me pretty much all horses are negotiable right now and it never hurts to ask!



  11. #11
    Join Date
    Jan. 25, 2000
    Location
    Ohio
    Posts
    3,212

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    No rules on what you can offer. I, err my parents, bought my gelding for 50% of his asking price.

    Granted, his owner did hang up on me... but she called me back.

    There ARE a million horses for a sale right now at low prices... you can find another just like this one if they won't deal, or if someone does come buy him.

    You can also mention the "well, I have a few others on my list to go see".

    I honestly DID make an offer on another horse and was doing the back & forth negotiating when I stumbled upon my guy... then the other seller (of the horse I didn't buy) was quickly willing to drop to my original offer when she realized I wasn't coming back to her. No go. I wanted the one I have now and ended up paying even less (he was greener though).



  12. #12
    Join Date
    Nov. 5, 2002
    Location
    way out west
    Posts
    3,088

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    I just bought a horse and was able to get him at a substantial discount. I hated making that phone call to the sellers because I was pretty sure they'd hang up on me, too...but she just said she'd have to call me back, and when she did they accepted the offer.

    As for the "other" people who were suddenly interested, in this case it was actually true. But I was the one with the cash, and a week before Christmas that ready cash is what got me the horse.

    My husband used to say about real estate "you've got to be willing to walk away", and I try to keep that in mind when horse shopping. It's hard, though, when you get that feeling.



  13. #13
    Join Date
    Apr. 17, 2002
    Location
    between the barn and the pond
    Posts
    14,213

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    Best horse I've ever owned I didn't really even LIKE all that much when we got him for my husband. When that turned out to be a Very Bad Decision, LOL, and we did a little inhouse horse tradin, I ended up discovering we had a really neat little horse.

    So, don't go fallin too far in love too fast with the perfect horse. Might be a flash in the pan that fizzles, quick.

    Go for sound over showy.

    Trust your trainer...but verify with your gut. And the vet.

    Always, always...be willing to walk away.

    Oh- and by the way, make sure you can catch 'em



  14. #14
    Join Date
    Aug. 17, 2004
    Location
    Rixeyville, VA
    Posts
    6,470

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    I can tell you that as a seller, I will happily walk from a low ball offer, so it is a two-way street. I've said no more than once. Sometimes the prospective buyer counters, sometimes not. I am in the fortunate position of having my own farm and having some economies of scale in maintenance costs.

    I would definitely not assume that there is any "standard" discount on price. It really depends on the seller's circumstances. Some sellers are less motivated than others.
    Where Norwegian Fjords Rule
    http://www.ironwood-farm.com



  15. #15
    Join Date
    Dec. 8, 2010
    Location
    Virginia
    Posts
    51

    Default

    Thank you all for your thoughts and advice! Truly appreciated. It makes me feel better about the whole pricing conversation, even though I still have a knot in my stomach about actually doing it. So much harder than a car or house situation! I will let you all know what happens.



  16. #16
    Join Date
    Jan. 10, 2007
    Location
    too far from the barn
    Posts
    5,519

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    Welcome to the boards. We will be interested to hear. I bought my first horse 14 years ago (at the age of 34). I was not shopping at all (planning to shop the next year), but we were looking at horses for a teen in our barn and I fell in love. No regrets and have always done better buying the horses that I just fall in love with (despite their, often many, faults) than the ones that seem "most suitable"
    OTTBs rule, but spots are good too!



  17. #17
    Join Date
    Jun. 23, 2010
    Location
    Connecticut
    Posts
    1,659

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    I wouldn't think of it as "low-balling" the seller...it's not as though you're offering less just for the heck of it. Be honest and tell the seller that your offer is what you can afford.

    I would certainly agree that you should try more than one horse before making up your mind, but your experience leasing has at least given you some idea of what you want.

    Be sure that you've reviewed your budget thoroughly...the purchase price is the cheapest part of having a horse. Do you know where you will board/keep your horse? Have you considered all your expenses (board, vet, farrier,etc.)? Will you be able to support your horse even if your hours are reduced or you have a layoff? Hve you set aside money for your "start-up" costs, like blankets, halters, buckets, tack and so on?

    And finally, once you purchase your horse...even before he/she gets on the trailer to come home BUY INSURANCE!



  18. #18
    Join Date
    Feb. 28, 2006
    Location
    The rocky part of KY
    Posts
    9,184

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    Welcome. I understand the waffling, I've been there, but mostly in regards to leasing when I would have had to board. It's an investment and a commitment and not to be made lightly.

    The horses we wound up with were dirt cheap and "free", so cost was not an issue. No horse is worth more than someone will pay for it, make an offer based on what you can afford.

    For us the biggest issue was housing and care. We have property and boarding was never in the plan. We had a relationship with a trainer who is 7 miles away, and we might as well be Mars as far as some of the services she uses are concerned, so we were very lucky in that our next door neighbors have been kind enough to share some of their contacts for the trimmer and hay guy, who both turned out to meet our standards. It could have been bad otherwise.

    The property had horses previously but wasn't well laid out or thought out, we have rock close to the surface so some thought was required to put up better fencing, and then the little things like a nice grooming area, washrack etc all had to be planned out after the fact.

    We had not actually intended to have more than a couple of trail horses that could live out 24/7, but some of the things like a barn, sacrifice areas, that grooming area and washrack, all weather footing for a small track/farm vehicle driveway are turning out to be things we would really like to have to make our lives easier.

    And second the large budget for additional expenses like tack and wardrobe. We'd been collecting tack for years but the blankets and one saddle had to be bought to fit, so now we have three saddles, a second set of grooming tools, lots of little things.

    Good luck, I know how excited you must be and yet scared - hope this works out great for you!
    Courageous Weenie Eventer Wannabe
    Incredible Invisible



  19. #19
    Join Date
    Feb. 5, 2002
    Posts
    1,982

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    I remember years ago when I went from half leasing to owning my own horse, I decided that for the amount of money it was going to cost me to own the whole horse, 7 days/week, 365 days/year, I'd better get out there every day. That was a huge change in lifestyle for me! I've never regretted it and certainly, not everyone can do that, but it's something I often throw out when families start asking about getting a horse for their kid. Do you have the time, money, inclination, etc to go to the barn every day, sometimes twice, if your horse has a problem that needs daily care? or the money to pay someone else to do it? half leasing is a great deal because usually there's an owner, or another half leaser, to split up the work. And if you only make it out once/week, the cost per ride is still a lot less than if you own the whole horse and only make it once/week. That's the one that usually stops the well-meaning fathers in their tracks!

    But if you've had a horse before, you know all of this. Best of luck in the search!



  20. #20
    Join Date
    Dec. 8, 2010
    Location
    Virginia
    Posts
    51

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    Thanks to all of you for your input!

    I recently went out a second time and knew what I needed to do. Deposit has been made and currently trying to set up the PPE.

    Scubed - Small world b/c I am 34 going through my first "purchase" (that I am paying 100% for, not my parents) as well. I wasn't even seriously looking, more like daydreaming in-between leases. So nice to hear it all worked out for you, and hopefully I will follow in your footsteps.

    Hinderella and ReSomething - Yes, I even made a spreadsheet for costs. lol. I am sure there will be plenty of stuff I have not even thought of yet though. Already got two insurance quotes as well. Guess now I need to search for those threads to get opinions on the companies.

    bestyk - agree with you about the lifestyle change. It is going to be very different for me, but something I know I will be very happy about!

    KateKat - you will have to let me know how it all ends up in a year, so I know what I have to look forward to since our circumstances are similar too!

    Once everything is finalized, I will post a pic (don't want to jinx it!). Thanks again everyone.



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