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  1. #21
    Join Date
    Oct. 2, 2007
    Location
    Mirabel, QC
    Posts
    2,656

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    I don't hold a horse for anyone without a non-refundable deposit. If I have a second party interested, I'd give the first person 24-48 hours to make up their mind and give me a deposit.

    You can't risk loosing a real sale for someone who might hum-hawing and daydreamin' about your horse.
    www.EquusMagnificus.ca
    Breeding & Sales - Currently: Eventing & Derby prospects
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  2. #22
    Join Date
    Oct. 4, 2012
    Location
    Rochester, NY
    Posts
    18

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    From my experience horse shopping I always did a vet check before I put down a deposite. I brought money with me to do the down payment so it was basically if I didn't leave cash both I and the sell considered that they didn't have any obligation to hold the horse for me. I really upset some sells by turning down horses after a vet check, moon blindness in one case, potential OCD coupled with trying to kick the vet in the second case. But I was happy have the ability to walk away after the vet check. One seller in particular really wanted the down payment first, but I made it very clear I would prefer to have the horse sold out from under me than to buy a horse without a vet check. My feeling is as a buyer you get the benefit of being able to walk away without worrying about a deposite, the seller can still entertain other offers. I agree that it's probably polite to offer the first person 48 hours to make her choice if for no other reason then a second vet check takes up more of your time. However, if there is no deposite you are completely within your rights to sell the horse.



  3. #23
    Join Date
    Nov. 6, 2009
    Posts
    2,053

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    Faye, putting down a deposit does not preclude your ability to walk away. Normal practice is that if a horse does not pass the vet check, the deposit is returned in full to the buyer. Usually this is spelled out in a sales contract which is signed at the same time the deposit is given.

    Of course, if you aren't worried about the horse selling out from under you and you are present and ready to complete the deal the moment the vet check is finished, I think you probably are okay not giving deposits.

    OTOH, deposits protect the buyer as well as the seller. For example, if you vet a horse without having signed a sales contract/given a deposit, the seller could potentially change their mind about selling the horse or increase the price the instant the vetting/xrays came back clean.


    2 members found this post helpful.

  4. #24
    Join Date
    Aug. 15, 2010
    Posts
    1,612

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    Quote Originally Posted by BeeHoney View Post
    Faye, putting down a deposit does not preclude your ability to walk away. Normal practice is that if a horse does not pass the vet check, the deposit is returned in full to the buyer. Usually this is spelled out in a sales contract which is signed at the same time the deposit is given.

    OTOH, deposits protect the buyer as well as the seller. For example, if you vet a horse without having signed a sales contract/given a deposit, the seller could potentially change their mind about selling the horse or increase the price the instant the vetting/xrays came back clean.
    Yeah, I agree, this is how I've always handled a deposit - it was refundable if the vet check was not satisfactory. This does protect the buyer - otherwise you could spend $2,000 on a vet check and have someone else come and buy the horse out from under you. No matter what, a good sales contract protects everyone and spells out all the time-lines, contingencies, etc.


    1 members found this post helpful.

  5. #25
    Join Date
    Dec. 9, 2008
    Location
    Maryland USA
    Posts
    1,194

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    Quote Originally Posted by FayeHanoverian View Post
    From my experience horse shopping I always did a vet check before I put down a deposite. I brought money with me to do the down payment so it was basically if I didn't leave cash both I and the sell considered that they didn't have any obligation to hold the horse for me. I really upset some sells by turning down horses after a vet check, moon blindness in one case, potential OCD coupled with trying to kick the vet in the second case. But I was happy have the ability to walk away after the vet check. One seller in particular really wanted the down payment first, but I made it very clear I would prefer to have the horse sold out from under me than to buy a horse without a vet check. My feeling is as a buyer you get the benefit of being able to walk away without worrying about a deposite, the seller can still entertain other offers. I agree that it's probably polite to offer the first person 48 hours to make her choice if for no other reason then a second vet check takes up more of your time. However, if there is no deposite you are completely within your rights to sell the horse.
    I wouldn't let you vet my horse unless I had a deposit. My time is valuable and there are too many risks involved with a pre-purchase to let it be done willy nilly. You give me a check, I give you a contract and "THE RIGHT" to examine my horse. I held up a numerous vet checks waiting on a deposit and I will again. It is good business and it protects everyone involved. So when someone else calls on a horse that is under contract, I let them know I have a contract, but if it isn't completed by such and such time the horse will be available to purchase. I except up to 2 contracts at a time and inform everyone involved of the circumstances.

    Tim
    Sparling Rock Holsteiners
    www.sparlingrock.com


    1 members found this post helpful.

  6. #26
    Join Date
    Oct. 4, 2012
    Location
    Rochester, NY
    Posts
    18

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    I'm surprised that a deposit before the vet check is common, not something I ran into when I was horse shopping, but I was mostly looking at OTTB and TB/WB crosses so it might be different with somewhat less expensive horses. After the vet check on the mare who kicked at the vet and the vet though had OCD, I got calls and E-mails for two weeks telling me the vet's opinion wasn't valid so I was thrilled I didn't have to fight about getting my deposit back. The horse trying to kick the vet when she went to pick up her back feet was enough of a red flag I probably won't have wanted to go forward even if the vet check was fine (don't flame me here, I'm an ammie and a horse trying seriously to nail the vet isn't something I need to deal with). I worked on the bring cash to the vet check for a deposit if it goes well. I don't plan to be horse shopping in anytime soon, but, I'll be less suspicious if someone asks for a deposite before the vet check.



  7. #27
    Join Date
    Oct. 4, 2012
    Location
    Rochester, NY
    Posts
    18

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    I'm starting to derail the OP thread so I'm going to start a new one. Thanks for all the response so far, I look forward to hearing more.



  8. #28
    Join Date
    Jul. 25, 2003
    Location
    Boston Area
    Posts
    8,312

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    I have always put down a deposit to hold a horse so that I could have it vet checked and then handed over the complete payment when the horse passed the vet. If I wasn't able to be at the PPE, I would have the money in escrow.

    I do not expect someone to hold a horse for me without a deposit, nor would I hold one for a buyer since people get cold feet.

    Quote Originally Posted by FayeHanoverian View Post
    From my experience horse shopping I always did a vet check before I put down a deposite. I brought money with me to do the down payment so it was basically if I didn't leave cash both I and the sell considered that they didn't have any obligation to hold the horse for me. I really upset some sells by turning down horses after a vet check, moon blindness in one case, potential OCD coupled with trying to kick the vet in the second case. But I was happy have the ability to walk away after the vet check. One seller in particular really wanted the down payment first, but I made it very clear I would prefer to have the horse sold out from under me than to buy a horse without a vet check. My feeling is as a buyer you get the benefit of being able to walk away without worrying about a deposite, the seller can still entertain other offers. I agree that it's probably polite to offer the first person 48 hours to make her choice if for no other reason then a second vet check takes up more of your time. However, if there is no deposite you are completely within your rights to sell the horse.
    Equine Ink - My soapbox for equestrian writings & reviews.
    EquestrianHow2 - Operating instructions for your horse.



  9. #29
    Join Date
    Jun. 22, 2009
    Location
    California
    Posts
    371

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    If no contract was signed prior to the vet check and no deposit made tell her she has until this Wednesday to make a decision and give you a signed copy of the sales contract. Call the other party and arrange for a showing sometime after Wednesaday . If they have to fly in let party#2 know on Thursday.
    I have never had someone take this long to make up there mind after a vet check who actually ended up purchasing a horse.
    Cindy Bergmann
    Canterbury Court
    559-903-4814
    www.canterbury-court.com



  10. #30
    Join Date
    Apr. 6, 2006
    Location
    Plainview, MN
    Posts
    3,528

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    Give the first interested party first right of refusal if you have someone else ready to put money done. In other words they have to top the second party's offer now to get the horse. No one is actual a buyer until they've handed you the money.



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