The Chronicle of the Horse
MagazineNewsHorse SportsHorse CareCOTH StoreVoicesThe Chronicle UntackedDirectoriesMarketplaceDates & Results
 
Results 1 to 16 of 16
  1. #1

    Default WWYD: Deposit/ Sale Question

    I took a deposit on a horse because the buyer wanted to do payments over time. Our contract states that the deposit is non-refundable. Horse is <$5K.

    The buyer has since contacted me to say that due to recent personal events she can no longer go through with the purchase.

    Would you return the deposit?



  2. #2
    Join Date
    Sep. 15, 2003
    Location
    Way up north in Lobsta Country
    Posts
    1,601

    Default

    Quote Originally Posted by half hALTER View Post
    I took a deposit on a horse because the buyer wanted to do payments over time. Our contract states that the deposit is non-refundable. Horse is <$5K.

    The buyer has since contacted me to say that due to recent personal events she can no longer go through with the purchase.

    Would you return the deposit?
    Non refundable...is just that. No money back.
    You decide what is right and fair...to both of you.
    Is your not buyer asking for the money back?
    the NOT!! Spoiled!! Arabian Protectavest poster pony lives on in my heart http://i118.photobucket.com/albums/o...pscc2a5330.jpg



  3. #3
    Join Date
    Oct. 26, 2010
    Location
    Orygun
    Posts
    2,861

    Default

    Nope. You have your answer in your second sentence. You can always return it because you want but what is the point of having a contract then?
    GR24's Musing #18 - More a reminder than a muse, on the first of the month, do your boob check for any lumps or differences.



  4. #4
    Join Date
    Jan. 30, 2012
    Posts
    7

    Default

    No, she's not asking for it back (in fact, she's said to keep it). I'm just torn about it because I don't do this a lot.



  5. #5
    Join Date
    May. 10, 2009
    Location
    NC piedmont
    Posts
    2,119

    Default

    Personally, if I knew the buyer had had some kind of personal crisis, I'd give it back. Not because there's any obligation to do so, but because sometimes doing the right thing reaps benefits down the road.

    If you do right by the buyer, perhaps when they are in a position to buy in the future, they will remember and seek you out first because you were ethical in your previous deal. Or maybe they know someone in the market they can send to you since they like the horse and will do something for you because they remembered you did right by them.

    It's not as though this buyer paid the deposit and then flaked on the rest; they let you know there was an issue and honored her end of the contract.

    Sometimes doing what's right is better in the long run than holding someone to the letter of a contract. What goes around comes around!



  6. #6
    Join Date
    Oct. 8, 2008
    Location
    not where I want to be
    Posts
    845

    Default

    You do what you feel is best for both parties. If you feel like giving it back, give it back, whether it be the full amount of half. Or it's yours according to contract.
    "If you've got a horse, you've got a problem"



  7. #7
    Join Date
    Nov. 6, 2009
    Posts
    2,047

    Default

    On one hand, you are very reasonably entitled to keep the deposit. Not only was it specified as non-refundable in the contract, it also fairly compensates you for your time, energy and hassle, plus for the weirdness that is created when a sale horse is returned (putting up new ads, letting people know the horse is available again, etc.)

    OTOH, there are so many worse ways this could have turned out (just read a few threads right here on COTH). And you obviously feel badly about keeping the money.

    You decide.



  8. #8
    Join Date
    Mar. 5, 2007
    Posts
    1,704

    Default

    Several years ago i had a similar thing happen.
    I decided to not return the deposit but told the buyer that I'd allow the amount of the deposit as a credit towards a purchase of a horse from me should she decide in the future to buy.

    A few years later she did buy a horse from me and I think in part because of the offer to use the non refunded deposit as a credit.



  9. #9
    Join Date
    Sep. 5, 2011
    Posts
    2,966

    Default

    I think it's completely up to you. Let's face it, sh*t happens. And it's usually pretty easy to tell when someone is being honest or just giving you a story. Plus, I think it depends on how much interest you've had in the horse since you accepted the deposit. If you've had lots of interest that was discouraged because of the deposit, then I'd most likely keep it; if not, then I'd most likely return it.



  10. #10
    Join Date
    May. 15, 2009
    Location
    Eastern Ontario, CND
    Posts
    2,191

    Default

    People lie.

    Unless you know her personally and have actively witnessed her "personal events" she may have just decided to buy another horse. If she'd come forward and told you something like that I'm sure you wouldn't feel guilty about not returning her deposit.

    If she's a friend, or you've seen the doctors/lawyers/whatever and her in the same room, I'd return the money.
    "For some people it's not enough to just be a horse's bum, you have to be sea biscuit's bum" -anon.
    Nes' Farm Blog ~ DesigNes.ca
    Need You Now Equine



  11. #11
    Join Date
    Sep. 5, 2011
    Posts
    2,966

    Default

    Yeah - but if she actually said "I'm sorry, but I can't buy - keep my deposit", without all the usual sob-story hoopla that most people do in order to beg back said deposit - and I hadn't had to turn down any other buyers; I'd most likely send back the deposit.



  12. #12
    Join Date
    Mar. 30, 2004
    Location
    King, NC
    Posts
    1,855

    Default

    I did, once. I told them I would when the horse sold ... mostly because they were so apologetic (SP??) and insisted I keep the deposit. Maybe I am just contrary?
    HaHA! Made-est Thou Look!



  13. #13
    Join Date
    Jan. 30, 2012
    Posts
    7

    Default

    Thanks for all of the replies. I've spoken to the purchaser and she's told me she's uncomfortable taking the deposit back, that it's mine, and I'm to keep it. So, I've taken S A McKee's advice and offered her equal credit toward any horse I have for sale.



  14. #14
    Join Date
    Jan. 4, 2007
    Location
    TX
    Posts
    39,968

    Default

    Quote Originally Posted by half hALTER View Post
    Thanks for all of the replies. I've spoken to the purchaser and she's told me she's uncomfortable taking the deposit back, that it's mine, and I'm to keep it. So, I've taken S A McKee's advice and offered her equal credit toward any horse I have for sale.
    It is so nice to do business with those that are fair and sensible, is it.
    Good that you were both classy in your "horse trading".



  15. #15
    Join Date
    Aug. 4, 2006
    Location
    Branson, Missouri
    Posts
    380

    Default

    It's so refreshing to see both a buyer and a seller doing the right thing.
    "I'm an idealist. I don't know where I'm going, but I'm on my way."



  16. #16
    Join Date
    Jan. 31, 2012
    Posts
    11

    Default

    Half Halter, that sounds like a good decision. Refreshing in this business, from both sides.



Similar Threads

  1. WWYD - Sale Horse - Horse SOLD!!!
    By charlo in forum Off Course
    Replies: 23
    Last Post: Oct. 16, 2012, 12:53 PM
  2. sale video - wwyd??
    By fleur de duc in forum Hunter/Jumper
    Replies: 30
    Last Post: Apr. 23, 2011, 11:37 AM
  3. WWYD?? Horse sale dilemma
    By RooMB4 in forum Off Course
    Replies: 31
    Last Post: Mar. 23, 2011, 08:46 AM
  4. WWYD, marketing your horse for sale?
    By jnel in forum Off Course
    Replies: 11
    Last Post: May. 7, 2010, 01:45 AM
  5. Terrible Luck During Sale...wwyd?
    By sobriquet in forum Off Course
    Replies: 16
    Last Post: Jun. 6, 2009, 07:54 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •